Uganda's imports, amid falling commodity exports due to the euro area crisis resulrted in trade deficit rose by 14 percent in June, according to central bank, Comparing to the deficit in Tanzania which widened by 90.2 percent to $4.296 billion from $2.258 billion a year ago, largely due to a rise in demand for oil and higher prices on the world market report said. Tanzania total imports bill said to be rose by 29.6 percent to $12.958 billion from recent year, but exports increased by 13.3 percent to $7.99 billion.
Uganda's central bank also said the country's trade deficit climbed to $252 million in June, from $221 million in May, while the country's balance of payments position is expected to worsen in the future as the Eu crisis curbs remittances, foreign direct investment and earnings from exports of commodities.