The value of exports of goods and services in Zanzibar declined to $167.6 million in September this year as compared to from $172 million recorded during the same period last year, largely due to a decrease in receipts from cloves.
According to the Bank of Tanzania (BoT) Monthly Economic Review for October 2022, cloves exports declined to $38.1 million, from $ 40.6 million.
“On month-to-month basis, goods worth $12 million were exported in September 2022 compared with $ 5.3 million in August 2022 and $24.5 million in September 2021,” the report said.
Meanwhile, the value of imports of goods and services, rose to $520.1 million, from $396.5 million recorded in September 2021.
Much of the increase was registered in imports of intermediate and consumer goods
Intermediate goods import rose to $345.1 million, up from $201.1 million, supported by an increase in white petroleum products, plastic articles, as well as iron and steel.
“The rise in imports of consumer goods was recorded in food and beverage, textile apparel, soap and detergent. On month-to-month basis, imports (f.o.b) amounted to $46.2 million in September 2022, compared with $28.7 million in September 2021,” the Central Bank report noted.