Zanzibar’s export value hit $185.5 million in 2022

The value of exports of goods and services in Zanzibar increased to $185.5 million in 2022, from $183.7 million in the previous year, driven by cloves, seaweeds and manufactured goods exports.

According to the latest Bank of Tanzania (BoT) Monthly Economic Review, cloves export rose to $51.6 million, from $50.4 million in 2021 on account of volume increase largely explained by cyclical nature of the crop.

Seaweeds exports also increased, driven by both price and volume. Likewise, manufactured goods exports rose to $10.6 million from $7.8 million.

“On monthly basis, goods worth $4.2 million were exported in December 2022, higher than $0.5 million in December 2021. Service receipts decreased to $109 million from $113.5 million,” the report said.

Meanwhile, Zanzibar’s import bill rose to $558.6 million in 2022, from $432.7 million in 2021, owing to increase in goods imports.

The value of goods imports increased by 40.8 percent to $466.7 million, driven by intermediate and consumer goods.

“The increase in intermediate goods import was largely driven by imports of iron, steel, plastic  articles, refined white petroleum and wheat grain,” the report said.