The Bank of Tanzania (BOT) Monthly Economic Review of October 2017 indicates that the annual export value of Tanzanian goods and services amounted to USD 175.6 million in the year ending September 2017, -17.1% lower than USD 212.0 million in the year ending September 2016.
The drop follows a general decline in export of goods, except for fish and fish products.
The value of cloves exported, which is the main export commodity, fell by -56.6% to USD 49.8 million from USD 21.6 million on account of a decrease in volume of cloves exported and price.
The value of seaweeds, another major export commodity, amounted to USD 1.5 million during the year ending September 2017, -43.5% lower than the amount exported in the year to September 2016.
Manufactured goods exports, which includes re-export of imported manufactured goods, amounted to USD 4.9 million compared with USD 9.1 million in the year to September 2016, with a drop of -46.1%.
Exports of fish and fish products increased by +41.1% to USD 39,398.1 from USD 27,907.2, partly explained by favorable weather condition and usage of better fishing gears.
Service Receipts
Earnings from services amounted to USD 3,681.0 million up from USD 3,457.4 million (+6.4%) following an increase in travel and transport receipts.
Earnings from travel, which is dominated by tourism, rose by +8% to USD 2,140.0 million from USD 1,980.0 million because of increase in the number of tourist arrivals.
Transport receipts rose by 4.8% to USD 1,085.3 million in the year ending September 2017.