Current account balance in Uganda
Uganda: Current account balance was -7.8% in 2024. ◆ Volatile
Current account balance in Uganda, 1980–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Uganda recorded -7.8% for current account balance in 2024.
Compared with earlier readings it is down 4.6% on the previous year and down 17.1% over ten years.
Over the whole period, current account balance in Uganda peaked at 2.9% in 1984 and was at its lowest, -9.6%, in 2020.
That places Uganda 162nd out of 199 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Uganda, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | -6.6% | — |
| 1981 | 1.9% | -128.6% |
| 1982 | -3.2% | -269.0% |
| 1983 | -3.2% | +0.5% |
| 1984 | 2.9% | -188.8% |
| 1985 | 0.1% | -95.4% |
| 1986 | -1.1% | -944.2% |
| 1987 | -1.8% | +62.0% |
| 1988 | -3.0% | +67.9% |
| 1989 | -4.9% | +64.0% |
| 1990 | -6.1% | +24.4% |
| 1991 | -5.1% | -16.4% |
| 1992 | -3.5% | -31.8% |
| 1993 | -5.3% | +52.5% |
| 1994 | -4.4% | -17.8% |
| 1995 | -4.9% | +12.0% |
| 1996 | -3.5% | -28.5% |
| 1997 | -5.0% | +43.9% |
| 1998 | -5.5% | +9.7% |
| 1999 | -4.9% | -11.5% |
| 2000 | -5.8% | +18.5% |
| 2001 | -5.2% | -9.7% |
| 2002 | -2.5% | -53.0% |
| 2003 | -0.6% | -76.4% |
| 2004 | -0.0% | -96.4% |
| 2005 | 0.6% | -2847.0% |
| 2006 | -3.2% | -650.3% |
| 2007 | -4.7% | +48.3% |
| 2008 | -8.5% | +79.2% |
| 2009 | -4.2% | -50.8% |
| 2010 | -6.0% | +44.7% |
| 2011 | -7.5% | +24.1% |
| 2012 | -6.1% | -19.0% |
| 2013 | -6.1% | -0.1% |
| 2014 | -6.6% | +9.6% |
| 2015 | -5.2% | -22.3% |
| 2016 | -2.9% | -44.7% |
| 2017 | -4.9% | +71.1% |
| 2018 | -6.3% | +29.6% |
| 2019 | -7.4% | +17.6% |
| 2020 | -9.6% | +28.6% |
| 2021 | -8.9% | -7.1% |
| 2022 | -8.9% | +0.3% |
| 2023 | -7.4% | -16.7% |
| 2024 | -7.8% | +4.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | -1.9% | -6.6% | 2.9% | 10 |
| 1990s | -4.8% | -6.1% | -3.5% | 10 |
| 2000s | -3.4% | -8.5% | 0.6% | 10 |
| 2010s | -5.9% | -7.5% | -2.9% | 10 |
| 2020s | -8.5% | -9.6% | -7.4% | 5 |
Countries ranked near Uganda
More economy & growth data for Uganda
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.29 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 6.99 Percent per annum (2029)
- Manufacturing, value added (constant LCU), per capita 452,615 constant LCU per person (2025)
- Industry (including construction), value added (current US$), annual 12.23 % change on previous year (2025)
- Industry (including construction), value added (current US$), per 0.2427 current US$ per US$ of GDP (2025)
- Industry (including construction), value added (current US$), per 292.79 current US$ per person (2025)
- Industry (including construction), value added (current LCU), annual 9.19 % change on previous year (2025)
- Industry (including construction), value added (current LCU), per 892.28 current LCU per US$ of GDP (2025)
- Industry (including construction), value added (current LCU), per 1.08 million current LCU per person (2025)
- Industry (including construction), value added (constant 2015 US$) 6.91 % change on previous year (2025)
Frequently asked questions
- What is current account balance in Uganda?
- Current account balance in Uganda was -7.8% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Uganda?
- The highest recorded value was 2.9% in 1984.
- What is the lowest current account balance recorded in Uganda?
- The lowest recorded value was -9.6% in 2020.
- How does Uganda rank for current account balance?
- Uganda ranks 162nd out of 199 countries with data for 2024.
- Is current account balance rising or falling in Uganda?
- Over the last ten years it is down 17.1%. The long-run trend across the full record is volatile.
- Where does this Uganda data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.