The value of exports of goods and services in Zanzibar slightly rose to $186.6 million in October 2022 from $184.1 million reported during the same period in 2021, on account of increased service receipts, particularly tourism.
According to the Bank of Tanzania (BoT) Monthly Economic Review for November 2022, the goods exports however recorded an annual decline of 6.2 percent, driven by cloves.
Cloves exports declined to $41.6 million from $46.2 million recorded in the corresponding period in 2021 owing to the cyclical nature of the crop’
“On month-to-month basis, goods worth $10.7 million were exported in October 2022, compared with $ 7.6 million recorded in October 2021.
Meanwhile the value of goods and services imported in Zanzibar during the same period hit $519 million during October 2022 from $410 million recorded during the same period in October 2021.
The report shows that the main drivers of the increase were intermediate and consumer goods imports.
“The Intermediate goods import bill rose to $343 million from $218.5 million, driven by iron and steel, plastic articles, refined white petroleum products and edible oil and wheat,” the report said.
The rise in imports of consumer goods was largely on account of an increase in other consumer good category import bill.
“On a month-to-month basis, imports (f.o.b) amounted to $30.5 million in October 2022, compared with $31.4 million in recorded in October 2021.