For decades, Uganda's economy suffered from devastating economic policies and instability, leaving Uganda as one of the world's poorest countries. The country has commenced economic reforms and growth has been robust. In 2008, Uganda recorded 7% growth despite the global downturn and regional instability.
Uganda has substantial natural resources, including fertile soils, regular rainfall, and sizable mineral deposits of copper and cobalt. The country has largely untapped reserves of both crude oil and natural gas. While agriculture accounted for 56% of the economy in 1986, with coffee as its main export, it has now been surpassed by the services sector, which accounted for 52% of percent GDP in 2007. In the 1950s the British Colonial regime encouraged some 500,000 subsistence farmers to join co-operatives. Since 1986, the government (with the support of foreign countries and international agencies) has acted to rehabilitate an economy devastated during the regime of Idi Amin and the subsequent civil war. Inflation ran at 240% in 1987 and 42% in June 1992, and was 5.1% in 2003.