Tanzania exports Rise by 8.67 per cent

Tanzania’s value of export has increased by 8.67 per cent as manufacturing, tourism and gold improved in the year ending March 2016, Bank of Tanzania (BoT) fresh data reveals.

The exported goods and services reached $9.88 billion in March from $9.1 billion recorded in the same period a year before the latest Monthly Economic Review for March reveals.

Earnings from tourism which is the leading foreign exchange earner increased from $2.12 billion in March to $2.29 billion during the corresponding period last year.

Manufacturing exports also improved from $1.37 billion in March to $1.41 billion in the same period a year before.

Earnings from Gold on the other hand increased from $1.26 billion in the year ending March 2015 to $1.32 billion in the year under review.

Stakeholders have consistently been raising the alarm that earnings from export is still low hence the country needs to remove the challenges which farmers and traders face so as to boost exports.

Despite the fact that Tanzania business farmers and traders have immense opportunities to trade in the East Africa Common Market and other international markets the business environment in the country doesn’t support them to smoothly do business.

Though the government has high regard towards agriculture but experts say the country lacks coherence towards policy harmonization, enforcement of legislation and streamlining administrative procedures.

“It is difficult for Tanzanians to compete to the EACM because the country has not prepared itself to do business with other countries instead it concentrates on internal business,” said Tanzania Exporters Association Executive Director Mtemi Naluyaga recently.

He said that Tanzania has not identified its competitive advantage to the East Africa Community hence lacks proper plans on how to compete to the EACM.

According to Naluyaga if Tanzania use effectively its existing productive land it will be able to increase its exports to neighboring countries.

“But currently there are many restrictions that discourage farmers from cultivating more, for a person to export anything he needs an export permit which is not easy to obtain,” said Mr Naluyaga.

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