The exports of goods and services increased by 17.4 percent to $6.6 billion over the period of July to December 2022, on account of a rise in travel receipts, traditional goods, minerals and manufactured goods according to the Bank of Tanzania (BoT) Economic Bulletin for the quarter ending December, 2022.
The value of traditional goods exports rose due to growth in exports of cashew nuts, cotton, and tobacco with exports of minerals experiencing notable gains, mainly due to volume effect.
Gold exports, which made up almost 45 percent of non-traditional goods exports, rose despite a decrease in global market prices.
“The exports of diamond rose five-fold to USD 40.4 million, mainly due to the reopening of Williamson Diamonds Mines after a period of closure and maintenance,” the report said.
The exports of coal amounted to$111.6 million from $8.9 million while the value of manufactured goods rose, supported by increase in exports of cement, textiles as well as iron and steel.
Services receipts rose by 47.4 percent to USD 2,663.4 million from the level recorded in the corresponding period in 2021/22, mainly on account of rise in travel and transport receipts.
The rise in tourism earnings was supported by the ongoing recovery in the number of international tourist arrivals, which edged up by 60.6 percent to 879,523.