Tanzania exports hit USD 7 billion mark

Dar Port, the main export gateway of Tanzania

Tanzania exported goods and services reached 6.776 billion US dollar during the year ended November, 2011, an increase by 19.9 per cent compared to the previous year, according to the Ministry of Finance and Economic Affairs.

The ministry said, through its Macroeconomic Indicators Report issued last week, that non-traditional exports also went up by 21.3 per cent to 3.746 billion US dollar  while the exports of manufactured goods decreased by 5.3 per cent to 868.8 million US dollar in value.

However, exports of non-traditional goods went up by 21.7 per cent to reach 647.6 million US dollar, thanks to higher export volumes and improved prices of coffee and tobacco.

During the said year, services receipt were 2.382 billion US dollar compared to 2.031 billion US dollar recorded in the year ending November, 2010, with much of the increase coming from travel and transportation. 

According to the 2010 International Visitors’ Exit Survey Report, Italy, the UK and the US  were identified as the major tourist source markets for Tanzania.

The survey observed that a number of international visitors, the average length of stay and average expenditure per person per night increased, contributing to the improvement in tourism earnings.

Meanwhile, the imported goods and services during the year ended November 2011 reached 11.580 billion US dollar an increase of 32.3 per cent to the amount imported during a similar period in 2010.

The imported capital goods increased to 3.423 billion US dollar, which is an increase of 28.9 per cent to that of previous year. Value of oil imports increased by 49.7 per cent to 2.834 billion US dollar in the year ended November 2011 compared to 1.976 billion US dollar that was recorded during similar period under previous year. 

This was due to the rise in oil prices in the world market and increased demand for thermal power generation, according to the report.

Source: The Citizen,www.thecitizen.co.tz, reported by Al-amani Mutarubukwa

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