Agriculture sector dominance in GDP composition has since dwindled - TopicsExpress

Agriculture sector dominance in GDP composition has since dwindled over the years, while services and industry sector have picked up. As such, there is need to revalue the GDP base year to capture the economic developments in the national accounts. As of end June 2014, Uganda’s nominal GDP stood at $ 24.5 billion. By safely assuming that Uganda’s GDP would change by same rate (25%) as Kenya, the figure would increase to $ 30 billion implying a GDP per capita of $ 860 for the estimated 35 million Ugandans. This should still be short of the Middle-income threshold of $ 1000, which implies Uganda would still qualify for the concessionary loans. The higher GDP would also heighten investors’ expectations, at the plus of attracting more investments: both domestic and foreign.

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