TANZANIA’S share of trade in the East African Community is expected to be further buoyed by rising exports from its growing manufacturing sector. Exports to East African Community partner states hit record high in 2013 with total trade turnover glossing over 1.5 billion US dollars, according to the East African Community Facts and Figures for 2014. The East African Community second largest economy had a positive balance of trade in the EAC region with a surplus of 723 million US dollars in 2013 up from a deficit amounting to 158.8 million US dollars in 2012. Compared with 2012, Tanzania’s intra-EAC trade grew by 26 per cent in 2013, with exports rising by an impressive 115 per cent, although imports declined by 41 per cent, the figures showed. Kenya remained Tanzania’s main EAC trade partner, with trade flows totalling 1.2 billion US dollars. Information from the Ministry of East African Cooperation shows the main exports to the East African Community region include machines, fertilizers, cement, electrical equipments, ships and boats equipments, cereals, oil products and their distillations, paper and textiles. However, Tanzania’s exports to the EAC constitute a minor share out of the country’s total exports in 2013 which reached about 8.5 billion US dollars, according to Bank of Tanzania reports. Tanzania main exports partners are India, Japan, China, United Arab Emirates, Netherlands and Germany. Tanzania major exports are agricultural commodities with tobacco, coffee, cotton, cashew nuts, tea and cloves being the most important. Other exports include gold and manufactured goods....
Tanzania’s export to the EAC on the rise
Posted on: February 25, 2015
Posted on: February 25, 2015