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Tanzania's April Exports DeclineFriday, June 06, 2014 > 13:46:21
THE decline of export values and volume of gold is among the reasons behind the fall in the value of non traditional exports, the Bank of Tanzania (BoT) has stated.
The BoT monthly report for April this year shows that the export value of gold declined by 11 per cent to 1,749.1 million US dollars compared to a fall of 17 per cent to 1,723.1 million US dollars recorded in the previous month.
According to the BoT report, the fall in export volume coupled with decline in the unit of export price by 19.9 per cent to an average of 1,327.2 per troy ounce, contributed to the downfall of the export value of gold.
The value of all non traditional exports thus experienced a downfall by 4.4 per cent during the period under review to 3,852.8 million US dollars with exception of manufactured goods, other minerals and re-exports.
Although gold registered a downward trend in the month in question, it however continued to dominate the nontraditional exports.
Other non traditional exports that declined included the horticultural like edible vegetables to 3.5 per cent compared to 4.5 per cent in the corresponding period a year before.
Similarly, the review period saw the value of traditional exports declined by 5 per cent to 870.5 million US dollars compared to the level recorded in the preceding year.
The decline in value of traditional exports was driven by a fall in export volumes and unit prices of some crops. The value of coffee, cotton and cashew nut declined due to a fall in both export volumes and unit prices, while that of tea was driven by a decline in export unit price alone.
Moreover, cloves and sisal recorded increases in export values owing to both export volumes and unit prices, whereas the value of tobacco increased mainly due to higher export unit prices as volume declined.