The export value of goods and services in Zanzibar fell to $ 58.2 million during Q3, 2022 as compared to $ 69.2 million registered during the corresponding period last year according to the latest Bank of Tanzania (BoT) Economic Quarterly Bulletin.
The Central Bank report shows that goods exports decreased to $19.4 million, from $43.3 million largely associated with decrease in exports of cloves due to cyclical nature of the crop.
“During the review period, service receipts rose by 49.5 per cent to $63.6 million when compared with the similar quarter in 2021, largely associated with increase in tourism activities,” the report shows.
Meanwhile, the Imports of goods (f.o.b) and services in Zanzibar rose to $148.6 million during Q3,2022 , from $102.8 million registered during the corresponding period last year driven by goods imports.
Goods worth $122.7 million were imported during the quarter, higher than $ 78.2 million in the quarter ending September 2021, due to increase in capital, intermediate and consumer goods categories associated with an increase in commodity price in the world market.
“Correspondingly, service payments increased by 4.8 per cent to $25.9 million, from the amount registered in similar quarter in 2021,” the report said.