The Bank of Tanzania (BOT) Monthly Economic Review of July 2018 indicates that earnings from export of goods and services amounted to USD 9,075.5 million in the year ending June 2018.
Services Receipts
The services account balance improved by 7.1% to a surplus of USD 1,778.1 million in the year ending June 2018, following an increase in services receipts that recorded annual growth of 9.0% to USD 3,981.7 million.
Foreign earnings from travel and transport services remained the main driver of services receipts growth.
Earnings from travel accounted for 60.4% of services receipts and grew by 13.6% to USD 2,403.2 million in the year ending June 2018.
This was due to an increase in the number of tourist arrivals following enhanced promotional activities by the government and private sector.
Moreover, transport services receipts accounted for 31.0% of services receipts and grew by 12.5% to USD 1,232.5 million owing to an increase in the volume of transit goods to-and-from neighboring countries. .
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