Dar es Salaam — Tanzania’s export values of manufactured goods rose by 12.5 percent in the year that ended on January 31, 2021 compared to the same period in the preceding year, the latest Bank of Tanzania (BoT) report shows.
Manufacturers are optimistic the country has the potential to increase export earnings – should the government speed up improvement of the business environment.
In its Monthly Economic Review, the central bank (BoT) reveals that export of manufactured goods jumped to $913.9 million during the year to January 31, 2021 compared to the $812.4 million recorded during a similar period a year back.
BoT did not explain the reason for the increase. But Bakhresa Group Corporate Affairs director Hussein Sufian said the rise could be attributed to the entrant of new players in the market, especially in the tiles, gypsum board and cement businesses. Also, he added, some of the exporters might have increased their export volumes.
However, Mr Sufian said Bakhresa for its side, had during the period under review recorded a slight decrease in export earnings due to the impact of the Covid-19 pandemic which affected their markets through lockdowns and travel restrictions.
The Group’s main foreign markets include DRC, Zambia, Burundi, Rwanda, Uganda and South Sudan.