Tanzania exports hit $11.2 million in July driven by non-traditional exports

The value of exports of goods and services in Tanzania hit $11.2 million in July 2022 from $8.9 million registered during the same period last year, driven by non-traditional exports and services receipts, the Central Bank said in the latest Monthly Economic Review for August 2022.

According to the Bank of Tanzania (BoT), the exports of goods increased by 10 per cent to $7.83 million, with non-traditional exports rising by 9 per cent.

“The increase was mainly in the exports of iron and steel, textiles, horticultural products, fish and fish products and maize. Gold which accounted for 38.3 per cent of goods exports were $ 2.7 million, lower than $2.9 million recorded during the corresponding period last year,” the report said.

Services receipts amounted to $4.1 million in the year ending July 2022 almost double compared with $2.4 million recorded during the corresponding period of 2021, boosted by travel and transport receipts.

Travel receipts edged up to $1.9 million from $929.5 million, consistent with the rise in tourist arrivals by 72.4 per cent to 1,208,559.

“The high travel receipts signal the recovery of the tourism sector though still threatened by the war in Ukraine. On a monthly basis, services receipts were $487.5 million, higher than $263.7 million recorded in July 2021,” the report said.