Forecasting Uganda’s Industrial Production Index Using Grey Systems Forecasting

Abstract

Economic growth is always the ideal for any country and depends on industrialization as one of the major pillars of transformation. Although slow, Industrial Production in Uganda is growing and this paper forecasts the country’s Industrial Production over five years from the year 2016 to 2020. Results and show that farther increase in Total Production can be expected and as most production categories will continue to grow, some will see very little growth and others decline. The paper suggests tighter restrictions on the importation of goods that are already being manufactured domestically especially for the case of those in the Textile, Clothing and Footwear category which is forecasted to decline.