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Cross border trade up by 47 pc

CROSS-BORDER trade recorded a surplus of 1.50tri/-, equivalent to 46.7 per cent in the quarter ending March 2020, which is higher than 1.02tri/- registered in the corresponding quarter last year.

According to the Bank of Tanzania (BoT) Consolidated Zonal Economic Performance report for the quarter ending March, the trade surplus was observed in all zones that have cross-border trade activities except the Southern Highlands zone.

In the Lake and Northern zones, the improvement in trade surplus was on account of growth in exports of plastic products, minerals, cotton and other consumer goods.

During the period under review, export earnings rose to 667.3bn/- compared to 441.6bn/- in the corresponding quarter last year, which is equivalent to 51.1 per cent.

Import earnings declined slightly to 115.6bn/- in the quarter under review from 118.4bn/-, which is equal to negative 2.4 per cent.

Export earnings in the northern zone increased to 939.9bn/- in the reference quarter compared to 756.8bn/-, which is equivalent to 24.2 per cent.

Revenue generated from imports increased to 125.0bn/- in the quarter ended March compared to 111.7bn/- in the other quarter last year, which is equal to 11.9 per cent change.

Export earnings in the south eastern zone rose to 147.5bn/-, which is equal to 62.3 per cent change compared to 90.9bn/- in the corresponding quarter last year.

Earnings from import of goods declined by negative 98 per cent in the period under review to 0.6bn/- in the reference period from 29.4bn/- in the corresponding quarter last year.

The export revenue in the South eastern zone declined by negative 12.9 per cent in the period under review to 50.5bn/- compared to 58.0bn/- last year. 

In the South Eastern zone, the increase was due to a rise in the value of cashew nut exports and a decline in imports of capital and intermediate goods.

THE East African Women in Business Platform (EAWiBP) ...

Author: DAILY NEWS Reporter

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