Uganda to top list of fastest growing economies

By Ritah Kemigisa

Global Growth Projections have predicted that Uganda is to top the list of the fastest growing economies to 2025, at 7.7% annually.

Uganda joins three other East African countries in the top 10 fastest growing countries, though a significant fraction of that growth is due to rapid population growth.

The growth projections are based on measures of each country’s economic complexity, which captures the diversity and sophistication of the productive capabilities embedded in its exports and the ease with which it could further diversify by expanding those capabilities.

In examining the latest 2015 global trade data, CID researchers found a clear turn in trade winds, as 2015 marks the first year for which world exports have fallen since the 2009 global financial crisis.

This time around, the decline in trade was driven largely by the fall in oil prices.