AfricaPress-Tanzania: VALUE of import of goods and services increased to 10,614.7 million US dollars in the year ending February from 10,162.8 million US dollars in the corresponding period 2019, largely driven by importation of capital goods.
With the exception of transport equipment and food and foodstuff, all other sub-categories of imports increased.
The value of oil imports, which accounts for 21.1 percent of goods import rose by 9.8 per cent to 1,844.1 million US dollars owing to the increase in imported volume as prices fell in the world market.
This development is partly explained by the ongoing infrastructural development in the economy. Meanwhile, the services payment rose by 2.4 percent to 1,861.1 million US dollars, following increase in transport payments particularly freight which went up by16.9 per cent consistence with the increase in goods import.
The primary income account balance, which comprises income from capital-related transactions and compensation of employees, widened to 679.5 million US dollars from 614.3 million US dollars largely due to increase in debt service.
Secondary income account, which captures unilateral current transfers, was in surplus of 446.3 million US dollars, lower than a surplus of 451.2 million US dollars in the corresponding period in 2019.
This was on account of a 10.7 per cent decline in official inflows.
