This month two prominent Tanzanian banks introduced new services to facilitate payment to and from China hence favour Sino-Tanzanian trade. National Bank of Commerce (NBC)…
China is Tanzania’s first trade partner and investor with USD 1.77 billion worth of imports and USD 177.5 million in investments in 2018.
China Tanzania Trade
In 2018, Tanzania’s export to China amounted to USD 144.59 million.
China is Tanzania’s prime import partner by volume of import. In 2018, Tanzania’s import from China amounted to USD 1.77 billion.
Tanzania imports a variety of products from China including machinery, electronic equipment, vehicles, and iron and steel.
China Tanzania Economic Relations
Tanzania is China’s largest aid recipient country in Africa. Since 1964 China has provided various kinds of assistance to Tanzania.
The largest Chinese-supported projects in Tanzania include the Tanzania Zambia Railway (TAZARA), the Friendship Textile Mill, the Mubarali Rice Farm, the Kiwira Coal Mine, and the Mahonda Sugar Cane Factory.
China Foreign Direct Investments (FDI) to Tanzania
China is Tanzania’s prime investor. In 2018, the outflow of FDIs from China to Tanzania reached almost USD 177.5 million.
China and Tanzania have embarked on 19 multi-billion dollar projects. Among these projects, is the construction of a large port in Bagamoyo costing USD 10 billion. The project is jointly funded by China Merchants Holdings International and Oman Investment Fund. However, the construction of the Bagamoyo port has been halted as of June 2019.
Sources: Statista, United Nations COMTRADE
Last Update: 8 October 2020
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