despite continued decline in the price of coffee, Uganda's principal export. According to IMF statistics, in 2004 Uganda's GDP per capita reached $300, a much higher level than in the 1980s but still at half the Sub-Saharan African average income of $600 per year. Total GDP crossed the 8 billion dollar mark in the same year.
Economic growth has not always led to poverty reduction. Despite an average annual growth of 2.5% between 2000 and 2003, poverty levels increased by 3.8% during that time. This has highlighted the importance of avoiding jobless growth and is part of the rising awareness in development circles of the need for equitable growth not just in Uganda, but across the developing world.
With the Uganda securities exchanges established in 1996, several equities have been listed. The Government has used the stock market as an avenue for privatisation. All Government treasury issues are listed on the securities exchange. The Capital Markets Authority has licensed 18 brokers, asset managers and investment advisors including names like: African Alliance Investment Bank, Baroda Capital Markets Uganda Limited, Crane Financial Services Uganda Limited, Crested Stocks and Securities Limited, Dyer & Blair Investment Bank, Equity Stock Brokers Uganda Limited, Renaissance Capital Investment Bank and UAP Financial Services Limited. As one of the ways of increasing formal domestic savings, pension sector reform is the centre of attention (2007).
Uganda traditionally depends on Kenya for access to the Indian Ocean port of Mombasa. Recently, efforts have intensified to establish a second access route to the sea via the lakeside ports of Bukasa in Uganda, and Musoma in Tanzania, connected by railway to Arusha in the Tanzanian interior and to the port of Tanga on the Indian Ocean. Uganda is a member of the East African Community and a potential member of the planned East African Federation.
Uganda has a large diaspora –
