Tanzania Gold Exports Reach Record In YE June 2021

Tanzania Gold and Goods Exports June 2021

The Bank of Tanzania (BOT) Monthly Economic Review-July 2021 indicates that during the year ending June 2021, the value of gold exports totaled USD 3,028.8 million, the highest level of earnings ever reached.

During the year ending June 2021, the value of exports of goods and services amounted to USD 8,850.3 million compared with USD 9,347.4 million during the similar period in 2020. The decline was observed in travel receipts, due to the effects of the pandemic.

Value of Tanzania Goods Exports YE June 2021

The exports of goods increased by +10% to USD 6,457.9 million, owing to the good performance of non-traditional exports.

Value of Tanzania Non-Traditional Exports YE June 2021

The value of non-traditional exports rose to USD 5,567.8 million from USD 4,574.9 million, with a significant increase registered in exports of gold, manufactured goods, horticultural products, and other exports.

Gold exports, which accounted for 54.4% of total non-traditional exports, increased by USD 437.5 million to USD 3,028.8 million, the highest level of earnings ever reached.

This was attributed to the increase in gold prices in the world market and ongoing Government initiatives to revamp the mining sector.

The value of manufactured goods increased by +36.2% to USD 1,090 million, while horticultural products increased to USD 324.6 million compared with USD 194.6 million in the similar period of 2020.

During the period, other exports surged by +73% to USD 665.5 million, emanating from a significant increase in exports of rice and beans to neighboring countries.

On a month-to-month basis, the export value of non-traditional goods increased to USD 525.7 million from USD 406.8 million in June 2020, owing to an increase in other exports particularly rice and oilseeds.

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Value of Tanzania Traditional Exports YE June 2021

During the year ending June 2021, the value of traditional exports was USD 578.4 million, lower than USD 995.9 million in the corresponding period in 2020.

The decline was observed in all traditional export crops save for coffee and sisal.

On a monthly basis, traditional exports remained broadly the same around USD 14.1 million.

Tanzania Travel Receipts YE June 2021

Services receipts declined by -31.2% to USD 2,392.4 million for the year ending June 2021.

Travel receipts, which account for 36.5% of total service receipts, declined by -54% to USD 873.6 million, as countries adopted lockdown measures to limit the spread of the pandemic.

The number of international arrivals declined to 638,389 from 1,230,455 in the year June 2020.

On a monthly basis, in June 2021, services receipts increased to USD 221.3 million, compared to USD 110.0 million in June 2020, attributed to an increase in travel receipts