Tanzania Traditional Exports Up By +62% in January 2022, Tourism Steadily Recovering

The Bank of Tanzania (BOT) Monthly Economic Review-February 2022 indicates that on a monthly basis, traditional exports rose to USD 77.8 million from USD 48 million in January 2021.

In the same month, exports of nontraditional goods were USD 330.8 million, lower than USD 368.1 million in January 2021.

And the export value of traditional goods was USD 657.8 million, down from USD 698 million in the similar period in 2021. The decline was due to the low export volume of cashew nuts and tobacco.

Meanwhile, on a monthly basis, services receipts were USD 311.4 million, compared to USD 237.2 million in January 2021, where travel receipts accounted for the majority of the increase.

On a yearly basis, exports of goods and services increased to USD 9,982.2 million in the year ending January 2022, compared to USD 8,382 million in the corresponding period of 2021.

A significant increase was registered in goods exports and travel receipts.

Exports of goods rose by 8.1% to USD 6,756.2 million, with non-traditional goods rising by 8.9% to USD 5,725.7 million.

Much of the increase emanated from exports of cereals, horticultural products and manufactured goods particularly cosmetics, plastics, and iron and steel.

Gold exports, which accounted for 39.3% of total goods exports, fell by 10.6% to USD 2,656.5 million driven by a slowdown in production.

Services receipts increased to USD 3,226 million, from USD 2,129.7 million in the year ending January 2021, mainly supported by travel and transport receipts.

Travel receipts rose to USD 1,433.44 million, consistent with an increase in the number of international tourist arrivals by 66.2% to 943,008, reflecting a steady recovery in tourism.