Zanzibar’s export value rises to $234.7 in July on cloves and tourism

The export of goods and services in Zanzibar rose to $ 234.7 million in July this year from $117.2 million recorded during the same period last year, largely due to an increase in receipts from cloves and tourism.

According to the Bank of Tanzania (BoT) Monthly Economic Review for August released recently, Zanzibar’s service receipt increased by 58.3 per cent to $145.1 million, while cloves export rose to $62.8 million, from $1 million recorded in the corresponding period in 2021.

“On month-to-month basis, goods exports increased to $ 2.1 million in July 2022 compared to $1.1 million in July 2021 and $ 1.5 million in June 2022,” the report said

Meanwhile, the imports of goods and services, during July 2022, rose to $234.7 million, from $117.2 million recorded in July last year, largely due to increase in imports of intermediate and consumer goods.

Intermediate good import rose to $322 million from $173 million, mainly due to increase in imports of industrial supplies, white petroleum products, edible oil and wheat grain, as compared to corresponding period in 2021.

“The rise in imports of consumer goods were recorded in food and beverage for household consumption and other consumer goods .On month-to-month basis, imports (f.o.b) amounted to $31.4 million in July 2022, compared to $18 million in the corresponding period of 2021 and $35.7 million in June 2022,” the report added.