The value of exports of goods and services in Tanzania hit $12.4 billion in March this year from $10.3 billion recorded during the same period last year, mostly driven by non-traditional exports, particularly manufactured goods and services receipts.
According to the Bank of Tanzania (BoT) Monthly Economic Review for April, 2023, “non-traditional goods recorded an annual growth of 7.6 percent driven by minerals; particularly gold, coal, and diamonds and manufactured goods,”
The Export of coal edged up to $223.8 million from $31.9 million, induced by rising demand for alternative energy, amid supply challenges caused by the war in Ukraine.
The exports of diamonds also increased to $57.6 million from $19.2 million in the year to March 2022 following resumption of production at Mwadui Williamson mines.
Likewise, gold exports increased to $2.87 billion from $2.67 billion, largely on account of volume effect.
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“Iron and steel, fertilizer and cement remained main drivers of the increase in export of manufactured goods,” the report says.
The exports of traditional goods also increased to $758.4 million, from $697.5 million with all traditional crops exports increasing except clove and tea largely on account of price effects.
“On monthly basis, traditional exports amounted to $42.6 million, compared with $32.8 million in March 2022, while non-traditional exports increased to $520.6 million from $510.3 million,” the report shows.