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Tanzania c/a deficit widens 3.9 pct in yr to June

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Steve Dii, Aug 16, 2010.

  1. Steve Dii

    Steve Dii JF-Expert Member

    #1
    Aug 16, 2010
    Joined: Jun 25, 2007
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    Published:
    Monday, 16 Aug 2010 | 1:16 PM ET
    By Fumbuka Ng'wanakilala
    DAR ES SALAAM, Aug 16 (Reuters) - Tanzania's current account deficit widened
    3.9 percent to $2.63 billion in the year to June due mainly to a rise in imports
    of oil and consumer goods, the central bank said on Monday.
    Imports of goods and services jumped 8.9 percent to $8.27 billion in the
    period, the Bank of Tanzania (BOT) said in its monthly economic review for June.
    "The value of goods imported increased ... largely due to a rise in the
    value of imported oil, food stuffs, fertilisers and other consumer goods," the
    bank said.
    The value of imported oil increased to $1.9 billion compared to $1.4
    billion in the preceding year, it said.
    During the period in question, the country bought 3.4 million tons of
    oil, compared with 2.7 million tons a year before.
    The east African economy's goods and services exports jumped 15.2 percent
    in June from a year earlier to $5.09 billion, with gold exports surging 67.4
    percent to $1.38 billion.
    Tanzania is Africa's third-largest gold producer.
    Gold continued to outstrip tourism as Tanzania's biggest foreign exchange
    earner, making up 44.1 percent of exports, while manufactured goods made up 20.7
    percent, the bank said.
    Tourism -- categorised as travel -- generated $1.23 billion, up from
    $1.16 billion a year before. The industry has traditionally been Tanzania's
    leading source of foreign exchange before being overtaken by gold in recent
    months.
    Traditional exports -- tea, coffee, cashew nuts and tobacco, among others
    -- earned $451.9 million, down 8 percent over the previous year, due to a
    decline in export volumes and a fall in cotton prices.
    Tanzania's economy is largely driven by mining, farming and tourism. But
    sectors such as manufacturing, telecommunications and financial services have
    been growing in recent years and contributing more.
    The central bank said bank credit to the private sector rose 14.1 percent
    in the year to June, compared with a 32.8 percent increase a year before.
    The bank said official gross reserves rose to $3.48 billion at the end of
    June -- or 5.5 months of import cover -- from $2.93 billion at end June 2009,
    boosted partly by funds from the International Monetary Fund's Exogenous Shocks
    Facility.
    The central bank aims for the country to have no less than five months of
    import cover.
    (Editing by George Obulutsa and Susan Fenton) (For more Reuters Africa
    coverage and to have your say on the top issues, visit: Reuters.com)
    Keywords: TANZANIA ECONOMY/
    (Email: nairobi.newsroom@reuters.com.
     
  2. Mtazamaji

    Mtazamaji JF-Expert Member

    #2
    Aug 17, 2010
    Joined: Feb 29, 2008
    Messages: 5,972
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    Ingawa sina ujuvi mkubwa na mambo ya uchumi kwa nini BOT haijaongelea forecast ilivyokuwa na wanayotegemea mbeleni iwe ili tujue kama kweli they are doing their home work.

    Kwa kweli ningependa kuona more analytical version ya hii kitu. Major export Za Dhahabu, na kilimo zilishuka yet juzi juzi serikali imejipamba kuwa imepunguza utegemezi wa bajeti kwa kiasi kikubwa.

    MKapa aliacha import cover ya miezi zaidi ya saba kama sikosei. Kwa benki kuu kusema ina target kuwa na import cover ya miezi mitano inayonyesha kuna something wrong. We ae going back. Ukiwauliza watasema mafuriko, ukame , nk.

    I think JF Management can do more ikienda ikatafuta hizi detailed report pale BOT . Inawezekana mwandishi kafanya summary kwa mambo anayopenda yeye.
     
  3. K

    Koba JF-Expert Member

    #3
    Aug 20, 2010
    Joined: Jul 3, 2007
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    Hii yote is coming back kwa hawa viongozi ambao ni no vision na akili ndogo,ukiangalia vizuri oil is killing us na ndio inatuletea umaskini wote huu,na hatuna sababu kabisa ya kuendelea kuendesha umeme wa mafuta ambao ndio magenerator yote karibu ya mikoani yanatumia,kuendelea kutumia umeme wa mafuta ni kujiletea umaskini tuu,kuna hydropower source na gas nyingi tu ambavyo vikitumiwa vizuri vitakata huo uagizaji wa mafuta kwa asilimia kubwa sana na itasaidia sana to fuel manufacturing kwa sababu umeme utakuwa wa kuaminika and hope utashuka bei kidogo na hiyo pesa badala ya kuagiza oil itaagiza machinery nyingine zitakazo produce consumer products,at the end of the day manufacturing itatoa ajira kwa millions of people which means more tax/income for our state....hivi kweli Jk na serikali yake hawawezi kuweka 400m USD for the next 5 yrs kujenga hydro ya kutupatia at least 300MW?nasikitika sana kuwa na viongozi wababishaji wasioelewa na wana cost nchi yetu big time na kutuletea umaskini wa kujitakia,pls JK invest invest heavy kwenye energy manaa ndio kila kitu na kila kitu kinategemea hapo...
     
  4. Richard

    Richard JF-Expert Member

    #4
    Aug 20, 2010
    Joined: Oct 23, 2006
    Messages: 6,854
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    hapo pia hijaoneshwa Interest rate imesimamaje, Iflation, GDP na hata Consumer Price index ikoje je wanachi wengi maskini wananunua bishaa ambazo kwa mrefu zimekuwa zikionekana ni za anasa?

    Kwa ujumla indicators zote zachumi wa nci bado haziwaki.
     
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