This archive report was first published on 29 June 2020.
According to the Bank of Tanzania's monthly review for May, Tanzania's exports of goods reached $9.982 billion in the year ending April, a notable increase from $8.618 billion in the same period in 2019.
Released last week, the review highlights a 30.3% growth in exports of goods to $5.897 million in the year ending April, with traditional exports nearly doubling to $1.032 billion.
Traditional exports were driven by cashewnuts, cotton, cloves, and sisal, with month-to-month comparisons showing a significant increase in April. In contrast, exports of coffee, tea, and tobacco declined.
Non-traditional exports also saw a notable increase, reaching $4.328 billion in the year ending April, up from $3.561 billion in the same period in 2019. Gold exports played a significant role in this growth, increasing by 44.5% to $2.436 billion and accounting for 56.3% of non-traditional exports.
Imports of goods and services increased slightly to $10.289 billion in the year ending April, driven by building and construction materials and oil imports. Payment of services also rose to $1.768 billion, with transport payments seeing a notable increase.
