Tanzania Gold and Minerals Exports Go Up In January 2021

Tanzania exports January 2021

The Bank of Tanzania (BOT) released its Monthly Economic Review – Feb 2021, indicating that the total exports of goods and services amounted to USD 8,741.8 million in year ending January 2021, representing a slight decrease from USD 9,835.5 million recorded in the corresponding period in 2020.

Traditional exports amounted to USD 705.4 million from USD 959.7 million, accounting for 8.1% of total exports.

Export of all major cash crop exports namely coffee, cotton, tea, sisal, cashew nuts, clove and tobacco declined.

Non-traditional exports increased to USD 5,298.7 million from USD 4,268.9 million, driven by the good performance of minerals (except diamond), manufactured goods, and horticultural products particularly edible vegetables and fruits.

Export of gold increased by USD 666.9 million to USD 2,970.5 million on account of both volume and price effects, and accounted for 49.5% of the nontraditional exports.

On a month-to-month basis, exports of goods and services amounted to USD 700.7 million in January 2021 compared with USD 923.5 million in the same period in 2020.

The value of traditional goods exports decreased to USD 48.1 million from
USD 161.8 million, largely explained by low export performance of cashew nuts, tobacco, and cloves.

Non-traditional exports rose to USD 369.8 million from USD 365.1 million.