The value of exports of goods and services in Tanzania surged to $12.44 billion in April 2023, up from $10.60 billion posted during the same period the previous year, mostly driven by non-traditional goods exports and services receipts.
According to the Bank of Tanzania (BoT) Monthly Economic Review for May 2023, non-traditional goods exports recorded an annual growth of 3.9 percent, mostly driven by minerals and manufactured goods.
A notable increase was registered in the export of minerals, especially gold with gold exports increasing to $2.84 billion from $2.69 billion, mainly due to volume effects.
“The value of manufactured goods increased by 13.6 percent to $1.42 billion, largely supported by exports of fertilizers and cement,” the report shows.
Exports of traditional goods also increased to $765.8 million, from $703.7 million with all traditional crops exports increasing except cloves and tea—largely on account of price effects.
“On monthly basis, traditional goods worth $29.7 million were exported during April 2023, higher than $22.3 million in April 2022, while non-traditional exports decreased to $436 million from $534.2 million,” the Central Bank report shows