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Manufactured goods, horticultural products boost non-traditional exports
2008-06-30 09:28:12
By Beatrice Philemon
Non- traditional exports increased in April this year to USD 155.2m from USD 149.6m recorded in the previous month mainly on account of the increase in exports of minerals, manufactured goods and horticultural products, BOT Monthly Economic Review has revealed.
The monthly economic review indicates that on an annual basis, non-traditional exports increased by 16.6 percent to USD 1,824.5m.
Much of the increase, noted the bulletin, was due to good performance of the manufactured goods exports that rose by 81.5 percent to USD 377.3m in line with the growth of manufacturing activities in the country.
Other exports increased dramatically from USD 148.4 m last year to USD 221.7m on account of a surge in exports of oil seeds and edible vegetables, following an increase in production.
Gold exports that accounted for about 50 percent of non- traditional exports decreased marginally to USD 884.1, following a decline in export volumes.
``While export volumes of gold went down by 26.4 percent to 34.3 tons, prices of gold in the world market increased from USD 634.13 to USD 785.1 per troy ounce, recorded in the year ending April 2007,`` the BOT review indicates.
In April this year, export of services improved slightly to USD 132.2m from USD 131.4m recorded in the previous month.
On an annual basis, services receipts increased by 12.8 percent to USD 1,651.4m following improvement in insurance, financial, other business and travel receipts.
During the period under review, travel receipts increased to USD 920.6m from USD 856.1m recorded during the corresponding period a year earlier.
This development is mainly attributable to international recognition of Tanzania`s magnificent tourist attractions such as snow-capped Mount Kilimanjaro and the wonderful beaches of Zanzibar.
Other factors that contributed to positive developments include improved air access to Tanzania, for example Qatar Airways that flies directly from tourist sources to Tanzania.
Right now, there is an improvement in accommodation facilities on both Tanzania Mainland and Zanzibar Island.
In April 2008, the monthly review elaborated, the value of traditional exports increased by 15.7 percent to USD 25.7m mainly on account of an increase in the export volumes of coffee, cotton, and tea.
All traditional crops with the exception of coffee and cloves recorded increases consistent with the movement of commodity prices in the world.
During the year ending April 2008, the value of traditional exports increased by 15.4 percent to USD 326.5m, largely due to a significant increase in export volumes of cotton, following favourable weather conditions.
``Similarly, there was an increase in unit prices of all crops with the exception of tea and tobacco. For example, unit price of cashew nuts increased significantly to USD 728.1 per ton from USD 495.0 per ton recorded in the corresponding period in the previous year.`` the monthly review indicates.
The report attributes positive performance of cashew nuts to fall in production by major suppliers India, and Vietnam.
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