Africa-Press – Tanzania. tured and non-traditional goods pushed up export revenues to 9,562.0 million US dollars in the year ending October compared to 8,636.0 million US dollars in the corresponding period last year.
According to the Bank of Tanzania (BoT) monthly economic review for November this year the exports of goods increased by almost 10.4 per cent to 6,750.8 million US dollars with non-traditional goods rising by 13.4 per cent to 5,722.8 million US dollars.
Gold exports remained broadly the same, amounting to 2,842.3 million US dollars and accounted for 30 per cent of total exports of goods and services. The exports of manufactured goods amounted to 1,178.4 million US dollars from 864 million US dollars last year with a significant rise in other exports products, particularly cereals. On monthly basis, the exports of non-traditional goods increased to 519.5 million US dollars slightly above 481.0 million US dollars in October last year.
The exports of traditional goods declined to 672.7 million US dollars compared with 766.7 million US dollars in the corresponding period last year driven by a decrease in all traditional goods, save for cloves, sisal and coffee. On a monthly basis, the traditional exports fell to 71.3 million US dollars from 80.4 million US dollars in October last year.
The services exports rose to 2,811.2 million US dollars during the year ending October from 2,523.9 million US dollars in a similar period of 2020. Travel receipts, despite remaining below pre-pandemic levels, increased by 24.9 per cent to 1,253.9 million US dollars.
The number of international tourist arrivals has rebounded to 861,059 compared with 742,401 in the year ending October last year signalling revamp in tourism activities. On a month-to-month, services income increased to 278.0 million US dollars in October this year from 183.9 million US dollars in October last year largely accounted for by travel receipts.
However, during the reference period, the current account deficit widened to a deficit of 1,582.8 million US dollars from 1,253.1 million US dollars registered in the corresponding period last year largely due to a rise in import bills.
The overall balance of payments improved to a surplus of 1,919.8 million US dollars from a deficit of 578.7 million US dollars following an increase in foreign financial inflows.
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