Tanzania’s exports of goods and services increased to USD 9,818.6 million in the year ending December 2021, from USD 8,555.5 million in the corresponding period in 2020, showing a year-on-year increase of 14.76%.
This was revealed by the Bank of Tanzania (BoT) in its latest Monthly Economic Review of January 2022.
The expansion was on account of a rise in exports of manufactured goods particularly sisal and sisal products, manufactured tobacco and other manufactured products as well as horticulture, fish products, and travel receipts.
Exports of goods increased by +6.0% to USD 6,755.6 million, with non-traditional goods rising by 9.7% to USD 5,763.0 million.
Gold exports fell by 7.2% to USD 2,743.1 million and accounted for 40.6% of total goods exports, driven by the recent decline in the world market prices.
Exports of manufactured goods rose to USD 1,213.2 million in the year ending December 2021, from USD 908.6 million in 2020, driven by sisal and sisal products, manufactured tobacco and other manufactured products, particularly iron and steel, cosmetics, plastic, paper, and paper products.
On a monthly basis, exports of non-traditional goods were USD 465.2 million, slightly higher than USD 452.9 million in December 2020.
Exports of traditional goods declined to USD 627.9 million from USD 808.1 million in the same period in 2020. Much decline was recorded in exports of cashew nuts, tobacco, and cotton.
On a monthly basis, traditional exports were largely unchanged at around USD 135.0 million.
Services receipts increased to USD 3,229.2 million, from USD 2,183.8 million in the year ending December 2020, largely boosted by travel (tourism) and transport receipts.
Travel receipts rose to USD 1,396.34 million, consistent with a rise in the number of international tourist arrivals by 48% to 918,603, as the recovery in tourism activities is underway.
On a monthly basis, services receipts were USD 362.9 million, compared to USD 218.9 million in December 2020, with travel receipts accounting for the larger increase.