Value of exported goods and services rose by 8.6 pct in Dec 2015

23Mar 2016
Victor Karega
The Guardian
Value of exported goods and services rose by 8.6 pct in Dec 2015

THE value of exported goods and services increased by 8.6 per cent to $9.47bn during December last year, from the level recorded in the corresponding period in 2014.

The Monthly Economic Review report issued by Bank of Tanzania said the impressive performance was driven by improved export performance of manufacturing and tourism sectors.

Traditional exports, mainly cash crops fell by 5.0 per cent to $787.1m in December last year from a level recorded in the corresponding period in 2014.

The decline was largely attributed by a fall in both export prices and volume for most of the traditional crops except coffee, tea and sisal because prices of all other traditional exports fell, as a results of world market commodity price plunging.

However, non-traditional exports rose by 10.3 per cent to $4.2bn in December 2015 from the amount recorded in the year ending 2014.

According to the Central Bank report, improvement of non-traditional exports was attributed to a good performance in the export values of manufactured goods, gold, re-exports and other exports.

The share of export value of manufactured goods in East Africa’s second-biggest economy increased to $1.4bn from 1.24bn in the preceding year, was led by sisal products, cotton, yarn, plastic items and apparel.

The value of gold exports, one of the dominant non-traditional exports slumped to $1.28bn from 1.32bn recorded previously, fuelled by a fall in price.

The BoT report shows that tourism revenues increased by 11.0 per cent to $2.23bn in the same period, while transport revenues grew by 14 per cent to 1.03bn.

The dominance of travel and transportation activities in services receipts is largely associated with the increased number of tourist arrivals and volume of transit goods, respectively.

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