Tanzania Exports Down -3.8% in Year Ending November 2017, Tourism and Fish Up

Tanzania Exports Services november 2017

The Bank of Tanzania (BOT) Monthly Economic Review of December 2017 indicates that earnings from export of goods and services in November 2017 decreased by -3.8% to USD 209.1 million from USD 217.4 million in the corresponding period in 2016. 

Goods Receipts
Exports of all goods declined, except for fish and fish products whose exports rose by 77.8% to USD 47,245.4 from USD 26,530.0 in the year ending November 2016 partly on account of usage of improved fishing gears.

Earnings from cloves fell by 10.0% mainly on account of a decline in volume. The volume of cloves exported fell to 5,944 tonnes from 6,575 tonnes in the year ending November 2016, largely due to the cyclical nature of the crop.

Services Receipts
Receipts from services grew by 3.3%  to USD 3,693.0 million, mainly on account of an increase in travel and transport receipts.

Foreign exchange earnings from travel, which mainly comprises receipts from tourism, rose to USD 2,156.9 million in the year ending November 2017, from USD 2,101.2 million in the year to November 2016, owing to increase in the number of tourist arrivals.

In addition, increase in transit goods to and from neighboring countries contributed to the growth in receipts from transport services, which rose to USD 1,071.0 million from USD 1,056.6 million in the year to November 2016.

RELATED:  Tanzania Tourism Revenues Up +13.6% in Year End June 2018