DAILY NEWS Reporter
THE value of exports of goods and services increased to 12 billion US dollars in 2022 up from 9.9 billion US dollars in 2021 driven by non-traditional exports.
According to the Bank of Tanzania (BoT) monthly economic review for January the value of exports was contributed largely by manufactured goods and minerals as well as services receipts mostly from tourism.
The increase in exports of manufactured goods largely emanated from fertilisers, textiles as well as iron and steel, owing to rising demand from neighbouring countries, particularly the Democratic Republic of the Congo (DRC).
The central bank report shows that coal worth 160.4 million US dollars was exported in 2022 higher than 13.2 million US dollars in the preceding year largely on account of increasing demand for alternative source of energy following short supply of crude oil and natural gas amid the war in Ukraine.
Most of the coal was destined to neighbouring countries including Kenya, DRC, Rwanda and Uganda and other countries mostly Poland, Hong Kong, India and Senegal.
Good performance was also observed in export of diamonds, which also recorded a sharp increase to 62.7 million US dollars from 8.5 million US dollars in 2021 explained by resumption of production at Williamson Mines following a period of closure for maintenance.
During the reference period, gold exports, which accounted for 46.8 per cent of goods exports, rebounded to 2.8 billion US dollars from 2.7 billion US dollars on account of volume effect.
The exports of traditional goods also increased to 766.5 million US dollars from 627.9 million US dollars supported by cashewnuts, tobacco, cotton and sisal.
As for cashewnuts and tobacco, the increase was on account of volume effect, whereas for cotton it was due to rise of prices in the global market.
On monthly basis, traditional exports rose to 140.1 million US dollars from 134.6 million US dollars in December 2021 whereas non-traditional exports increased to 486.1 million US dollars from 465.2 million US dollars.
Services receipts amounted to 4.8 billion US dollars in 2022 higher than 3.1 billion US dollars in the previous year explained by increase of travel and transport receipts.
Travel receipts almost doubled to 2.6 billion US dollars from 1.3 billion US dollars consistent with the rise in the number of tourist arrivals by 57.7 per cent to 1,454,920.
The level of tourist arrivals is approaching the pre-pandemic level of 1,527,230 in 2019, reflecting recovery of tourism sector.
On monthly basis, services receipts increased to 481.8 million US dollars in December last y year from 339.4 million US dollars in the corresponding month in 2021.
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