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Exports In the year ending February 2024, exports of goods and services rose by 14.7%, reaching USD 14,274 million compared with the level recorded in the corresponding period in 2023.
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Tanzania Exports Up by 14.7% in The Year Ending February 2024, Tourism Receipts Up by 28.5% and follow us on Twitter:
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Mpaka February 2025
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BUSINESS FRONTIER
Tanzania’s External Sector Strengthens on Export and Tourism Recovery
April 10, 2025
In the year ending February 2025, Tanzania’s external sector showed remarkable improvement, with the current account deficit narrowing to USD 2.81 billion from USD 4.43 billion in the previous year. This positive shift was driven by a rise in total exports to USD 14.29 billion, up from USD 12.23 billion, supported by increased earnings from […]
In the year ending February 2025, Tanzania’s external sector showed remarkable improvement, with the
current account deficit narrowing to USD 2.81 billion from
USD 4.43 billion in the previous year. This positive shift was driven by a rise in
total exports to
USD 14.29 billion, up from
USD 12.23 billion, supported by increased earnings from
gold (USD 2.87 billion) and
traditional exports like cashew nuts and coffee.
Tourism earnings surged to USD 3.25 billion following 1.8 million international arrivals, marking a 33.6% rise. Meanwhile, the
balance of payments deficit declined significantly to
USD 58.6 million, signaling enhanced resilience in Tanzania’s foreign exchange position.
Tanzania’s External Sector Performance – February 2025
🔸 1. Current Account
- The current account deficit narrowed to USD 2.81 billion for the year ending February 2025, down from USD 4.43 billion in February 2024.
- This improvement is attributed to increased export earnings, particularly from services like tourism and traditional exports.
🔹 2. Exports of Goods and Services
- Total exports amounted to USD 14.29 billion, up from USD 12.23 billion in the previous year.
Breakdown:
- Goods exports:
- USD 8.22 billion (↑ 4.3%)
- Gold remained dominant at USD 2.87 billion
- Traditional exports surged by 46.5%, led by:
- Cashew nuts: USD 426.2 million
- Coffee: USD 282.4 million
- Cotton: USD 152.9 million
- Services exports:
- USD 6.07 billion (↑ 36.3%)
- Mainly driven by tourism and transport services
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In the year ending February 2025, Tanzania’s external sector showed remarkable improvement, with the current account deficit narrowing to USD 2.81 billion from USD 4.43 billion in the previous year. This positive shift was driven by a rise in total exports to USD 14.29 billion, up from USD 12.23...
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