Tanzania Exports Up by 20% in YE March 2022, Tourist Arrivals Almost Doubled

Posted on : Monday, 30th May 2022

The Bank of Tanzania Monthly Economic Review-April 2022 reveals that the country’s exports of goods and services increased to US$ 10,214.6 million during the year ending March 2022.  

 

This is +20.14% higher than US$ 8,502.1 million in a similar period in 2021.

 

Improvement in exports was noted in both traditional and non-traditional exports in addition to travel receipts.  

 

Exports of goods rose by 7.8% to US$ 6,882.2 million, with traditional and non-traditional exports growing by 17.9% and 5.7%, respectively.

 

A significant portion of the increase in exports is attributed to tobacco, cosmetics, cement, plastic items, horticultural products and cereals, particularly, rice and maize.  

 

On a monthly basis, traditional exports rose to US$ 32.8 million from US$ 22.4 million in March 2021, thanks to an increase in the export values of coffee, cotton, cloves, and tobacco.

  

The significant increase in the value of cloves exports is explained by stockpiling of cloves that occurred when clove prices were lower.

 

On a month-to-month basis, the export value of non-traditional goods was US$ 513.6 million, slightly lower than US$ 524.2 million in March 2021.

 

Services receipts increased to US$ 3,348.5 million in March 2022 from USD 2,116.1 million in the year ending March 2021, mainly from travel and transport receipts.

 

Travel receipts rose to US$ 1,490.2 million, from US$ 678.6 million, consistent with a rise in the number of international tourist arrivals from 515,529 to 980,415.