• About Us
  • Contact
Thursday, March 23, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Economic

Tanzania’s export value hit $12 billion in 2022 on traditional exports and minerals

by Editor
02/02/2023
in Economic
0
Tanzania’s export value hit $12 billion in 2022 on traditional exports and minerals
Share on FacebookShare on Twitter

The value of exports of goods and services in Tanzania increased to $12.0 billion during 2022 from $9.87 billion recorded in 2021, driven by non-traditional exports, particularly manufactured goods and minerals and services receipts from tourism according to the Bank of Tanzania (BoT) Monthly Economic Review for January, 2023.

“The increase in exports of manufactured goods largely emanated from fertilizers, textiles as well as iron and steel, owing to rising demand from neighbouring countries, particularly the Democratic Republic of the Congo,” the report said.

According to the report, Coal worth $160.4 million was exported in in the preceding year, largely on account of increasing demand for alternative source of energy following short supply of crude oil and natural gas amid the war in Ukraine.

Cargo containers at the Dar es Salaam port. The value of exports of goods and services in Tanzania increased to $12.0 billion during 2022 from $9.87 billion recorded in 2021, driven by non-traditional exports, particularly manufactured goods and minerals and services receipts from tourism. PHOTO / COURTESY.

“Most of the coal was destined to neighbouring countries including Kenya, Democratic Republic of Congo, Rwanda and Uganda; and other countries mostly Poland, Hong Kong, India and Senegal,” the report said.

Good performance was also observed in export of diamonds, which also recorded a sharp increase to $62.7 million from $8.5 million in 2021, explained by resumption of production at Williamson Mines following a period of closure for maintenance.

Gold exports, which accounted for 46.8 percent of goods exports, rebounded to $2.83 billion from $2.74 billion on account of volume effect.

Exports of traditional goods also increased to $766.5 million from $627.9 million, supported by cashew nuts, tobacco, cotton and sisal.

“As for cashew nuts and tobacco, the increase was on account of volume effect, whereas for cotton it was due to rise of prices in the global market.” the report said.

On monthly basis, traditional exports rose to $140.1 million from $134.6 million recorded in December 2021, whereas non-traditional exports increased to $486.1 million, from $465.2 million.

Tags: #LatestBusinessNews#LatestTanzaniaBusinessNews#LatestTBWNews#TanzaniaBusinessNews
Editor

Editor

Next Post
TradeMark rebrands, sets its sights on West Africa

TradeMark rebrands, sets its sights on West Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Thu, 23 Mar.

Recommended

NCBA Group injects KSh 2 billion in its Tanzania subsidiary   

NCBA Group injects KSh 2 billion in its Tanzania subsidiary   

7 months ago
How is it possible to start a business without capital?

How is it possible to start a business without capital?

6 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili