Tanzania exports US$7billion good, services in one year

BoT HQ

Tanzania exported goods and services worth US$7 billion in the year ending April 2012. 

Tanzania’s exports to the East Africa Community have increased tremendously since the coming into force of the EAC Common Market protocol.

Only a year after the signifying of the protocol, Tanzania’s exports to the EAC rose by 71 per cent from $263 million in 2009 to $450 million in 2010.

Imports, on the other hand, declined to $285 million from $310 million in the same period, according to the Ministry of East African Cooperation.

The Bank of Tanzania, however, shows that in 2011 about 80 per cent of total exports went to South Africa, Switzerland, China, Japan, German, Kenya, India, Democratic Republic of Congo (DRC), Netherlands and Belgium.

Gold and other precious metals including diamond and tanzanite are the major exports to Switzerland, China and South Africa.According to the BoT 18.7 per cent in 2011 went to South Africa, 18.4 per cent went to Switzerland, 14.9 per cent went to China and 7.8 per cent went to Japan.

Germany took 5 per cent of Tanzania’s exports, Kenya 4.8 per cent, India 4.6 per cent, Democratic Republic of Congo 2.7 per cent, Netherlands 2.1 per cent, Belgium 1.9 per cent and other countries 19.2 per cent.

Tanzania exported to the EU goods worth 349 million euros in 2009 and imported goods worth 720 million euros.

Most of Tanzania’s exports to the EU consisted of agricultural commodities and live animals. Tanzania’s exports to EU were 25 per cent of total exports.

Sources: The Citizen,http://www.thecitizen.co.tz, reported by Felix lazaro

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