Tanzania Gold Exports Up by 26% in September 2019

Tanzania gold exports september 2019

The latest Bank of Tanzania (BOT) Monthly Economic Review of October 2019 indicates that in the year ending September 2019, gold exports rose by +26.1% to USD 1.9 billion on account of volume and price effects.

During the same period, the overall value of goods and services exports rose by 5.2% to USD 9,205.2 million due to an increase in services receipts and value of non-traditional goods exports.

The value of non-traditional goods exports was USD 3,991.9 million, higher than USD 3,222.1 million in the corresponding period in 2018.

Earnings from all major categories of non-traditional goods exports increased, except for fish and fish products, and re-exports. Export of gold accounted for 48.6% of non-traditional goods exports

The export value of foreign exchange earnings from services accounted for 45.6% of total exports. It amounted to USD 4,194.3 million in the year ending September 2019 compared with USD 3,930.8 million in the corresponding period in 2018, largely driven by tourism.

Receipts from tourism accounted for 61.8% of service receipts and grew by 9.9% to USD 2,593.3 million, owing to an increase in tourist arrivals.

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