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The Bank of Tanzania (BOT) Monthly Economic Review-August 2022 revealed that the country’s exports of goods and services amounted to US$ 11.2 billion during the year ending July 2022, an increase of 25.7% from US$ 8,927 million in the corresponding period of 2021
The Bank of Tanzania (BOT) Monthly Economic Review-August 2022 revealed that the country’s exports of goods and services amounted to US$ 11.2 billion during the year ending July 2022, an increase of 25.7% from US$ 8,927 million in the corresponding period of 2021.
The increase was due to a pick up of non-traditional exports and services receipts. Exports of goods increased by 10% to US$ 7 billion, with non-traditional exports rising by 9%. The increase was mainly in the exports of iron and steel, textiles, horticultural products, fish and fish products, and maize. Gold exports also picked up. These categories of goods accounted for 38.3% of goods exports. In absolute numbers, it was US$ 2.71 billion, which is less than US$ 3 billion in the corresponding period.
Exports of traditional goods increased to US$ 750.6 million up from US$ 593.7 million. All traditional crop exports increased except for tea and cashew nuts, due to mainly higher prices in the world markets. On a monthly basis, traditional exports increased to US$ 36.2 million from US$ 23.4 million in July 2021. Non-traditional exports were US$ 546.6 million in July 2022, slightly lower compared to US$ 570.7 million in July 2021.
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Service and Travel Services receipts amounted to US$ 4.1 billion in the year ending July 2022, almost doubled compared with US$ 2,4 billion in the corresponding period of 2021, boosted by travel and transport receipts. Travel receipts increased to US$ 1,97 billion from US$ 929.5 million, consistent with the rise in tourist arrivals by 72.4% to 1,208,559.
