• About Us
  • Contact
Wednesday, May 21, 2025
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Economic

High import bills push Zanzibar’s current account deficit to $116.5 million in June

by Editor
23/08/2023
in Economic
0
High import bills push Zanzibar’s current account deficit to $116.5 million in June
Share on FacebookShare on Twitter

Zanzibar’s current account deficit widened to $116.5 million during the quarter ending June 2023, from $104.4 million recorded during the corresponding quarter in 2022 according to data from the Central Bank.

According to the Bank of Tanzania Economic Bulletin for the Quarter ending June 2023, the outturn was mainly associated with an increase in import bills that outweighed the increase in exports.

The value of exports of goods and services rose to $26.6 million from $23 million recorded in the similar quarter of 2022, with both goods and services recording increases.

Service receipts increased by 17.5 percent to $20.8 million, largely driven by travel receipts, particularly from tourism related activities.

Goods worth $5.8 million were exported during the quarter, higher than $5.4 million in the quarter ending June 2022, driven by seaweeds, manufactured goods, and fish and fish products.

An aerial view of Zanzibar. Zanzibar’s current account deficit widened to $116.5 million during the quarter ending June 2023, from $104.4 million recorded during the corresponding quarter in 2022 according to data from the Central Bank. PHOTO | COURTESY

Imports

Goods and services worth $144.8 million were imported during the quarter, compared with $127.0 million in the corresponding quarter in 2022, with both goods imports and service payments recording growth.

“All major categories of goods import recorded increases when compared with the similar quarter in 2022,” the report says.

In line with the increase in goods imports, service payments rose to $23.8 million, higher than in the

quarter ending June 2022 by 20.5 percent

Tags: #LatestBusinessNews#LatestTanzaniaBusinessNews#LatestTBWNews#TanzaniaBusinessNews
Editor

Editor

Next Post
Exim Bank inks MoU with Indesso and Amani Essence to promote agriculture development in Tanzania

Exim Bank inks MoU with Indesso and Amani Essence to promote agriculture development in Tanzania

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Wed, 21 May.

Recommended

African states urged to tap on intra-Africa trade pact to end reliance on foreign imports

African states urged to tap on intra-Africa trade pact to end reliance on foreign imports

3 years ago
Tanzania’s fintech NALA wants to make Rwanda a settlement hub for East Africa

Tanzania’s fintech NALA wants to make Rwanda a settlement hub for East Africa

2 years ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Oil and Gas
    • Others
    • Q&A Interviews
    • Real estate
    • Sectors
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili