Tanzania exports up 21.6 pct in Q2 on manufactured goods

Tanzania’s export value rose by 21.6 per cent to $1.84bn/- during Q2, 2022 the latest Bank of Tanzania Quarterly Economic Bulletin shows.

The rise in the exports of goods during the period was attributed to higher export values of traditional exports and non-traditional goods particularly manufactured goods.

The report shows that traditional exports increased to $86.4 million from $46.1 million supported by significant increase in exports of cashew nuts, coffee and tobacco.

The value of manufactured goods also doubled to $506.9 million, bolstered by the export of textiles, iron and steel, and fertilizers.

“The good performance was also recorded in exports of minerals, particularly gold, diamond and concentrates,” the report shows.

Meanwhile, the value of goods imported rose significantly by 38.8 per cent to $3.31 billion during quarter 2, this year as compared to the same period last year.

This was mainly a result of an increased imports bill particularly petroleum products, iron and steel, and plastic items.

According to the Central Bank report, the Imports of petroleum products surged by 56.4 percent to $776.3 million, on account of a rising trend in crude oil prices in the world market