Africa-Press – Tanzania. THE imports of goods and services increased to 10,298.2 million US dollars in the year ending August this year from 9,698.8 million US dollars in the corresponding period last year.
According to the Bank of Tanzania (BoT) monthly economic review for September, the increase is due to a rise in imports of machinery, oil and all consumer goods except food and foodstuffs.
The value of goods imported during the period increased to 8,916.4 million US dollars from 8,207.7 million US dollars. Oil imports which constituted 18.7 per cent of all goods imports, rose by 11.5 per cent to 1,666.2 million US dollars on account of the price effect.
On a monthly basis, goods import bills increased by 199.9 million US dollars to 895.0 million US dollars in August this year compared with the corresponding period last year. This was brought on by a rise in importation of both consumer and capital goods.
Services payments were 1,381.8 million US dollars in the year ending August this year compared to 1,491.1 million US dollars recorded in the corresponding period last year stemming from lower travel payments, reflecting ongoing measures adopted by countries to limit the spread of the Covid-19 pandemic.
On a month-to-month basis, services payments went up to 149.3 million US dollars in August this year from 95.9 million US dollars in the corresponding period last year following an increase in freight payments, consistent with the rise in import bills.
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