Uganda’s export revenue increased 36% year over year in August, reaching $1.5 billion compared with $1.1 billion a year earlier. Higher earnings from commodities supported the increase, underscoring the importance of mineral exports to Uganda’s foreign-exchange earnings. Gold accounted for $889 million in export revenue in August 2026, a 68.9% increase from August 2025. The government also expects commercial oil production and exports to provide an additional boost to foreign exchange earnings. Operations at oil fields in western Uganda, near the border with the Democratic Republic of Congo, are expected to begin in early 2027. The anticipated production could diversify export revenue sources and support the country’s external finances.