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.
“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.