Uganda trade deficit plunges

Posted by 7Star Sunday, November 29, 2009

Uganda's trade deficit fell to $58.45 million in September from $163.8 million in the same month last year due to a rise in informal cross-border exports, the central bank said on Thursday. While informal trade to the Democratic Republic of Congo and south Sudan has boosted Uganda's trade balance, it has also heightened inflation in east Africa's third largest economy.

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