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Trade between Tanzania and India during the first eight months of this year reached US$2.5 billion, which was about 67 per cent of the total trade volume in 2014, figures from The Indian High Commission show.
The January-August trade volume was nearly 82 per cent of what the two countries exchanged in 2013. Total bilateral trade amounted to US$1.77 billion and US$1.36 billion in 2011 and 2012 respectively.
Between January and September last year, the volume of trade between the two countries was US$2.8 billion.
Tanzania's top export to India is gold, which is sold in unwrought and semi-manufactured forms or as power. The precious metal is followed by fresh or dried coconuts, Brazil nuts and cashew nuts.
The other major exports are dried leguminous vegetables, sawn and chipped wood as well as oil-cake and other solid residues of vegetable fats.
According to the High Commission, Tanzania can export more to India and manage to balance the trade deficit by diversifying its exports. During the January-August period the balance of trade between the two countries stood at US$1.36 billion in favour of India.
"Tanzania has huge potential to export pulses. However, Indian traders should be vigilant of fraud. They are encouraged to deal with reliable businesses and avoid online transactions," reads a part of the report titled: Economic & Commercial Report for the Month of September, 2015.
India and China are leading export and import markets for Tanzania. The others are Kenya, South Africa, Japan, Switzerland, and the United Arab Emirates.
In 2014, nearly 15 per cent of Tanzania's exports were bought in India compared to about nine per cent in 2013. During the two years, the country's import bills comprised 18 per cent and 17 per cent Indian exports respectively.
According to Bank of Tanzania's figures Tanzania's exports were valued US$8.45 billion and US$8.81 billion in 2013 and 2014 respectively. The imports bills during the two years were US$13.5 billion in 2013 and US$13.62 billion last year.
The top five Indian exports to Tanzania are petroleum oils and oils obtained from bituminous minerals, pharmaceuticals, aluminium wires and cables, fibre optical cables, and motorcycles.
According to Deputy High Commissioner Robert Shetkintong, Tanzania offers a ready market for many other Indian exports such as machinery, motor vehicles, electrical and electronic equipment as well as plastics and ceramic products.
He says that Tanzania can also be a good market for Indian project exports in civil construction, turnkey projects, consultancy services and supplies of capital goods and industrial manufactures.
"Given India's global export capability, the export of these products to Tanzania have good potential for India," Shetkintong notes in the report.
During the eight months, Tanzania's imports from India amounted to US$1.93 billion compared to US$2.46 billion for the whole of last year. The value of its exports during the two respective periods was US$573.5 million and US$1.29 billion.
Total imports from India were valued at US$2.3 billion, US$880.6 million and US$1.56 billion in 2013, 2012 and 2011 respectively. The respective goods exported during the three years were worth US$752.1 million, US$480.1 million and US$208 million.
- See more at: http://en.africatime.com/articles/i...bn-eight-months#sthash.wxpMLLdA.9HIgIEfk.dpuf
Trade between Tanzania and India during the first eight months of this year reached US$2.5 billion, which was about 67 per cent of the total trade volume in 2014, figures from The Indian High Commission show.
The January-August trade volume was nearly 82 per cent of what the two countries exchanged in 2013. Total bilateral trade amounted to US$1.77 billion and US$1.36 billion in 2011 and 2012 respectively.
Between January and September last year, the volume of trade between the two countries was US$2.8 billion.
Tanzania's top export to India is gold, which is sold in unwrought and semi-manufactured forms or as power. The precious metal is followed by fresh or dried coconuts, Brazil nuts and cashew nuts.
The other major exports are dried leguminous vegetables, sawn and chipped wood as well as oil-cake and other solid residues of vegetable fats.
According to the High Commission, Tanzania can export more to India and manage to balance the trade deficit by diversifying its exports. During the January-August period the balance of trade between the two countries stood at US$1.36 billion in favour of India.
"Tanzania has huge potential to export pulses. However, Indian traders should be vigilant of fraud. They are encouraged to deal with reliable businesses and avoid online transactions," reads a part of the report titled: Economic & Commercial Report for the Month of September, 2015.
India and China are leading export and import markets for Tanzania. The others are Kenya, South Africa, Japan, Switzerland, and the United Arab Emirates.
In 2014, nearly 15 per cent of Tanzania's exports were bought in India compared to about nine per cent in 2013. During the two years, the country's import bills comprised 18 per cent and 17 per cent Indian exports respectively.
According to Bank of Tanzania's figures Tanzania's exports were valued US$8.45 billion and US$8.81 billion in 2013 and 2014 respectively. The imports bills during the two years were US$13.5 billion in 2013 and US$13.62 billion last year.
The top five Indian exports to Tanzania are petroleum oils and oils obtained from bituminous minerals, pharmaceuticals, aluminium wires and cables, fibre optical cables, and motorcycles.
According to Deputy High Commissioner Robert Shetkintong, Tanzania offers a ready market for many other Indian exports such as machinery, motor vehicles, electrical and electronic equipment as well as plastics and ceramic products.
He says that Tanzania can also be a good market for Indian project exports in civil construction, turnkey projects, consultancy services and supplies of capital goods and industrial manufactures.
"Given India's global export capability, the export of these products to Tanzania have good potential for India," Shetkintong notes in the report.
During the eight months, Tanzania's imports from India amounted to US$1.93 billion compared to US$2.46 billion for the whole of last year. The value of its exports during the two respective periods was US$573.5 million and US$1.29 billion.
Total imports from India were valued at US$2.3 billion, US$880.6 million and US$1.56 billion in 2013, 2012 and 2011 respectively. The respective goods exported during the three years were worth US$752.1 million, US$480.1 million and US$208 million.
Source: AfricaTime
The January-August trade volume was nearly 82 per cent of what the two countries exchanged in 2013. Total bilateral trade amounted to US$1.77 billion and US$1.36 billion in 2011 and 2012 respectively.
Between January and September last year, the volume of trade between the two countries was US$2.8 billion.
Tanzania's top export to India is gold, which is sold in unwrought and semi-manufactured forms or as power. The precious metal is followed by fresh or dried coconuts, Brazil nuts and cashew nuts.
The other major exports are dried leguminous vegetables, sawn and chipped wood as well as oil-cake and other solid residues of vegetable fats.
According to the High Commission, Tanzania can export more to India and manage to balance the trade deficit by diversifying its exports. During the January-August period the balance of trade between the two countries stood at US$1.36 billion in favour of India.
"Tanzania has huge potential to export pulses. However, Indian traders should be vigilant of fraud. They are encouraged to deal with reliable businesses and avoid online transactions," reads a part of the report titled: Economic & Commercial Report for the Month of September, 2015.
India and China are leading export and import markets for Tanzania. The others are Kenya, South Africa, Japan, Switzerland, and the United Arab Emirates.
In 2014, nearly 15 per cent of Tanzania's exports were bought in India compared to about nine per cent in 2013. During the two years, the country's import bills comprised 18 per cent and 17 per cent Indian exports respectively.
According to Bank of Tanzania's figures Tanzania's exports were valued US$8.45 billion and US$8.81 billion in 2013 and 2014 respectively. The imports bills during the two years were US$13.5 billion in 2013 and US$13.62 billion last year.
The top five Indian exports to Tanzania are petroleum oils and oils obtained from bituminous minerals, pharmaceuticals, aluminium wires and cables, fibre optical cables, and motorcycles.
According to Deputy High Commissioner Robert Shetkintong, Tanzania offers a ready market for many other Indian exports such as machinery, motor vehicles, electrical and electronic equipment as well as plastics and ceramic products.
He says that Tanzania can also be a good market for Indian project exports in civil construction, turnkey projects, consultancy services and supplies of capital goods and industrial manufactures.
"Given India's global export capability, the export of these products to Tanzania have good potential for India," Shetkintong notes in the report.
During the eight months, Tanzania's imports from India amounted to US$1.93 billion compared to US$2.46 billion for the whole of last year. The value of its exports during the two respective periods was US$573.5 million and US$1.29 billion.
Total imports from India were valued at US$2.3 billion, US$880.6 million and US$1.56 billion in 2013, 2012 and 2011 respectively. The respective goods exported during the three years were worth US$752.1 million, US$480.1 million and US$208 million.
- See more at: http://en.africatime.com/articles/i...bn-eight-months#sthash.wxpMLLdA.9HIgIEfk.dpuf
Trade between Tanzania and India during the first eight months of this year reached US$2.5 billion, which was about 67 per cent of the total trade volume in 2014, figures from The Indian High Commission show.
The January-August trade volume was nearly 82 per cent of what the two countries exchanged in 2013. Total bilateral trade amounted to US$1.77 billion and US$1.36 billion in 2011 and 2012 respectively.
Between January and September last year, the volume of trade between the two countries was US$2.8 billion.
Tanzania's top export to India is gold, which is sold in unwrought and semi-manufactured forms or as power. The precious metal is followed by fresh or dried coconuts, Brazil nuts and cashew nuts.
The other major exports are dried leguminous vegetables, sawn and chipped wood as well as oil-cake and other solid residues of vegetable fats.
According to the High Commission, Tanzania can export more to India and manage to balance the trade deficit by diversifying its exports. During the January-August period the balance of trade between the two countries stood at US$1.36 billion in favour of India.
"Tanzania has huge potential to export pulses. However, Indian traders should be vigilant of fraud. They are encouraged to deal with reliable businesses and avoid online transactions," reads a part of the report titled: Economic & Commercial Report for the Month of September, 2015.
India and China are leading export and import markets for Tanzania. The others are Kenya, South Africa, Japan, Switzerland, and the United Arab Emirates.
In 2014, nearly 15 per cent of Tanzania's exports were bought in India compared to about nine per cent in 2013. During the two years, the country's import bills comprised 18 per cent and 17 per cent Indian exports respectively.
According to Bank of Tanzania's figures Tanzania's exports were valued US$8.45 billion and US$8.81 billion in 2013 and 2014 respectively. The imports bills during the two years were US$13.5 billion in 2013 and US$13.62 billion last year.
The top five Indian exports to Tanzania are petroleum oils and oils obtained from bituminous minerals, pharmaceuticals, aluminium wires and cables, fibre optical cables, and motorcycles.
According to Deputy High Commissioner Robert Shetkintong, Tanzania offers a ready market for many other Indian exports such as machinery, motor vehicles, electrical and electronic equipment as well as plastics and ceramic products.
He says that Tanzania can also be a good market for Indian project exports in civil construction, turnkey projects, consultancy services and supplies of capital goods and industrial manufactures.
"Given India's global export capability, the export of these products to Tanzania have good potential for India," Shetkintong notes in the report.
During the eight months, Tanzania's imports from India amounted to US$1.93 billion compared to US$2.46 billion for the whole of last year. The value of its exports during the two respective periods was US$573.5 million and US$1.29 billion.
Total imports from India were valued at US$2.3 billion, US$880.6 million and US$1.56 billion in 2013, 2012 and 2011 respectively. The respective goods exported during the three years were worth US$752.1 million, US$480.1 million and US$208 million.
Source: AfricaTime
