Goods, services imports up

TANZANIA: IMPORTS of goods and services increased to 16,512.0 million US dollars in the year ending August compared to 14,995.6 million US dollars in the previous year.

The main drivers are the white petroleum products, machinery, industrial transport equipment, fertilisers and service payments, particularly freight payments.

Import of white petroleum products, which accounted for 19.8 per cent of the total imports bill of goods, fell by 5.2 per cent. That was due to both volume and price effects.

On a monthly basis, goods worth 1,250.6 million US dollars were imported in August higher than 1,090.7 million US dollars in August last year.

Services payments also rose to 2,467.0 million US dollars from 2,166.2 million US dollars in the year to August last year largely driven by freight payments consistent with the rising import bill.

On a monthly basis, services payments were 195.5 million in August this year compared with 234.5 million US dollars in August last year.

During the year to August, the primary income account recorded a deficit of 1,303.8 million US dollars higher than 1,244.8 million last years in the previous year.

On a monthly basis, the primary account deficit widened to 97.3 million US dollars compared with a deficit of 89.9 million US dollars in August last year.

The secondary income account balance improved to a surplus of 649.1 million US dollars in the year to August from a surplus of 582.3 million US dollars last year explained by increase in recorded personal transfers.

On a monthly basis, the secondary income account had a surplus balance of 49.6 million US dollars in August higher than 44.9 million US dollars in August last year.

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