Tanzania Exports Shrink 3% in March 2017 but Gold and Cashew Nuts See Strong Growth
value of Tanzanian goods and services amounted to USD 8,921.7 million in the year ending March 2017, about -3.0% lower than the year ending March 2016. A decline occurred in manufactured goods and to a small extent in non-traditional exports; otherwise earnings from travel—which is mainly tourism—remained fairly unchanged over the two periods. Traditional Exports The performance of traditional exports was mixed across the categories during the year ending March 2017, with the total value increasing by USD 119.2 million to USD 872.8 million (+15.8%). The export value of cashew nuts dominated the improvement, as it nearly doubled the value recorded in the year ending March 2016, on account of increase in both volume and price. By contrast, export values of cloves, sisal, tea and tobacco declined. The decline in the values of sisal, tea and tobacco was in volume while that of cloves was of both volume and price. BOT notes that the prices for most of the traditional exports declined consistent with the general trend in the world market. Non-Traditional Exports The value of non-traditional exports was USD 3,950.4 million in the year ending March 2017, lower than USD 4,380.2 million in the year ending March 2016 (-9.8%). However, there were variations in performance across categories of non-traditional exports. Export value of gold, which dominates non-traditional exports, rose by +23.9% to USD 1,494.1 million owing to a sustained recovery in gold price in the world market in the recent periods, as well as an increase in export volume.
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