DAR ES SALAAM: IMPORTS of goods and services increased by 2.3 per cent to 16.48 billion US dollars from the level recorded in October last year driven by iron and steel.
According to the Bank of Tanzania (BoT) monthly economic review for November shows that the other imports with notable increases were sugar for industrial use, plastic items, footwear and plastic items.
On a monthly basis, goods imports amounted to 125 billion US dollars compared with 1.29 billion US dollars in October last year.
Services payments decreased to 2.37 billion US dollars in the year ending October from 2.41 billion US dollars last year.
Monthly, service payments amounted to 236.9 million US dollars compared with 214.6 million US dollars in October last year.
The primary income account balance deteriorated, recording a deficit of 1.77 billion US dollars in the year ending October this year relative to a deficit of 1.54 billion US dollars in the corresponding period last year with the increase associated with interest payments abroad.
ALSO READ: Tanga port exceeds revenue collection target
On month-to-month, the deficit narrowed to 166.7 million US dollars from 194.2 million US dollars in October last year.
As for the secondary income account, the surplus decreased to 553.4 million US dollars from 641.5 million US dollars in the year to October last year.
The account registered a surplus of 44.8 million US dollars in October compared with 45.2 million US dollars in October last year.
