Tanzania Exports of Manufactured Goods Increased by 33% in YE August 2021, Crops Up Too

The Bank of Tanzania (BOT) Monthly Economic Review-September 2021 indicates that in the year ending August 2021 the exports of goods increased by 7.1% to USD 6,589.5 million,

During the same period, exexports of goods and services marginally improved to USD 9,206.9 million compared with USD 9,105.5 million in the corresponding period in 2020, owing to good performance in goods exports.

Value of Tanzania Goods Exports YE August 2021

Exports of goods increased by 7.1% to USD 6,589.5 million, with non-traditional exports rising by USD 742.7 million to USD 5,618.7 million.

Significant increase was registered in exports of gold, manufactured goods, horticultural products and other exports.

Exports of manufactured goods increased by 33.2% to USD 1,125.2 million, with significant increase registered in exports of ceramic products, cosmetics, plastic products, iron and steel.

Most of the manufactured goods are destined to DRC, Zambia, Uganda, Rwanda, Burundi and Malawi.

Likewise, horticultural products increased to USD 370.8 million from USD 181.8 million, much of the increase was recorded in edible vegetables including peas, green beans, onions and tomatoes.

Other exports products grew by 82.5% to USD 757.7 million, on account of rise in exports of rice, beans and oilseeds.

On a month-to-month basis, export value of non-traditional goods increased to USD 542.6 million from USD 486.7 million in August 2020.

Value of Tanzania Non-Traditional Exports YE August 2021

Gold exports increased by USD 206.5 million to USD 2,941.1 million and accounted for 52.3% of exports of non-traditional goods. This was largely boosted by relatively high price in the world market.

Value of Tanzania Traditional Exports YE August 2021

Traditional exports decreased to USD 639.2 million in the year ending August 2021 from USD 967.9 million in the corresponding period in 2020, explained by subdued demand in world market in the wake of the pandemic.

The decline was observed in all traditional export crops, except coffee and sisal.

On a monthly basis, however, traditional exports rose to USD 66.3 million compared with USD 20.8 million in the corresponding month in 2020, consistent with the onset of export season for most traditional exports.

Tanzania Travel Receipts YE August 2021

Travel receipts, which accounted for 41.1% of total service receipts, declined by 23.2% to USD 1,075.7 million, attributed to the containment measures implemented by various countries against COVID-19 pandemic.

The number of international arrivals declined to 761,150 from 951,706 in the year to August 2020.

Noteworthy, the resumption of travel and lifting of lockdown measures in many countries are expected to boost tourism in Tanzania.

On a monthly basis, in August 2021, services receipts increased to USD 262.8 million, compared with USD 150.6 million in August 2020, owing to a rise in travel receipts, suggesting a gradual pickup of tourism activities from last year.