At independence in 1962, Uganda’s total GDP was just about US$449 million (about
Ush1.65 trillion today).
With a population of 7.2 million, the income per capita was only US$62 (Ush207,700 today).
Exports were worth US$108 million (Ush397 billion today), while imports were worth US$96 million (Ush353 billion today).
In short, the economy at independence was small, narrow, basic and peasant-dominated.
World market conditions were unfavorable at that time, the population was growing at a rate (2.5%) higher than growth in per capita income (1.2%) and there was obvious need to stimulate sectors of the economy to boost growth prospects.
The first post-independence government did not consider industrialization a development priority. Instead underlined agricultural development as its priority.
Industrialization only featured in the second five-year plan (1966/67-1970/1971) of Prime Minister Apollo Obote
Much of the industrial activity, however, remained in primary agro-processing.
