Uganda, Dec. 19 -- Uganda's trade balance within the East African Community during October 2022, indicates that merchandise trade resulted in a surplus of $114.54 million (about Shs418.337 billion), an increase from a surplus of $71.05 million (about Shs259.497 billion) recorded a year ago.

The above development demonstrates how trade activity has picked up in the region after suffering a decline in the past two years due to Covid-19.

The Ministry of Finance Planning and Economic Development said in the performance of the economy report for the month of November 2022 released Monday that over the same period, exports to EAC increased by 11.8 per cent whereas imports decreased by 22.5 per cent.

"There was an increase in export receipts ...