The Bank of Tanzania (BOT) Monthly Economic Review of January 2018 indicates that the country’s earnings from export of goods and services in 2017 increased by 7.7% to USD 223.0 million in 2017 from USD 207.1 million in 2016.
The improved performance was on account of an increase in exports of traditional crops, particularly cloves and seaweeds; as well as services receipts.
Earnings from cloves rose by 41.7% mainly on account of increase in volume. The volume of cloves exports increased by 42.9% to 7,022 tonnes in 2017 from 4,915 tonnes in 2016 following bumper harvest in the 2017/18 season.
As regard to seaweeds, about 8,500.3 tonnes valued at USD 2.7 million were exported in 2017 compared with 5,165.7 tonnes valued at USD 2.3 million in 2016.
Cloves and seaweeds exports accounted for 88.5% and 26.1% of goods exports and goods and services, respectively.
Manufactured goods exports, which include manufactured re-exports, declined to USD 5.7 million from USD 6.1 million in 2016 largely on account of a decline in re-exports.
Services Receipts
Services receipts grew by 8.9% to USD 3,927.6 million on account of increase in travel and transport receipts.
Travel receipts rose by USD 207.6 million to USD 2,339.2 million, owing to increase in the number of tourist arrivals, partly an outcome of increased tourism promotion by the government and private sector.
Receipts from transport services went up to USD 1,147.9 million in 2017 from USD 1,061.8 million recorded in the preceding year following the increase in transit goods to and from neighboring countries amid improved efficiency at Dar es Salaam port.
