Uganda's export earnings up 11.3% y/y in June

Business Recorder reported that Uganda's June export receipts reached $1.28 billion, up 11.3% from $1.15 billion a year earlier. The figures come from a finance ministry report that Reuters had access to, released on Thursday. Higher gold and cotton exports were the main driver behind the rise, the document showed.

In June gold export value reached $685 million, a rise of 43.5% compared with the same month last year. The country also works as a regional hub for processing gold, and that metal along with coffee ranks among its chief sources of foreign currency. By contrast, coffee receipts slid 36.3% from a year earlier, landing at $184.4 million, after dry weather weakened harvests and cut volumes.