31Bits & Uganda’s Trading Industry

Blog Post #3

Economic Side of Distribution/Trade/Transport

 

When looking at the statistics of how much the United States imports from Uganda it is actually surprising. In 2013, the United States actually imported 47 million dollars worth of products from Uganda.  This graph provided by the United States Census Bureau breaks down how much money was imported from Uganda to United States for each month in 2013.

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Uganda’s trade laws are broken down into two categories: Traditional and Non-Traditional. 31bits would fall under the Non-Traditional category because it is considered a “Manufactured Product”.  According to the Uganda Export Promotion Board, manufactured products account for the most value that is being exported from Uganda in the Non-Traditional Category.  So although it may seem that the production of jewelry might be a small business venture, in the grand scheme of things it accounts for most of Uganda’s exportation.  Also, with the passing of the African Growth and Opportunity Act (AGOA) in 2000, it allows countries like Uganda to benefit from trading with the U.S. The AGOA is designed to help promote trade between the U.S. and Uganda and provides benefits for companies exporting their products from Uganda to the U.S. In an article published by the Daily Monitor, it specifically mentions 31bits and encourages them to keep trading with the U.S. and keep tapping into their markets. 31bits is proving itself as an economic factor in the trading between the U.S. and Uganda.

           DO YOU THINK THAT 31BITS WILL KEEP PLAYING A ROLE IN THE TRADE BETWEEN THE U.S. AND UGANGA?

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31Bits & Uganda’s Trading Industry

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