Z’bar export earnings up $68m

Dar es Salaam. Earnings from export of goods and services in Zanzibar rose by $68.6 million to $240 million in the year ending May 2018 from $171.4 million recorded in May 2017, thanks to earnings from clove boom.

Bank of Tanzania’s Monthly Economic Review for June has shown that clove export earnings amounted to $57.4 million compared to $17.3 million on account of volume and price increase.

The crop unit price increased to $8,175.3 per tonne in during the year ending May 2018 from $7,754.4 per tonne a year earlier.

The BoT computation and Tanzania Revenue Authority (TRA) data have shown that the volume of clove exported by Zanzibar in the year to May 2018 increased to 7,200 tonnes from 2,200 tonnes in the year ending May 2017.

The report has shown that this was a result of bumper harvest coupled with improved extension services.

Seaweed export, the second major export commodity also increased to 11,000 tonnes valued at $4.3 million compared with 3,500 tonnes valued at $1.6 million in the year ending May 2017.

Noteworthy, clove and seaweeds exports accounted for 79.4 per cent of total goods exports.

Meanwhile, exports of fish and fish products, manufactured goods and other exports also increased

Export of fish and fish products more than doubled, following increase in supply of fish including prawns and crabs coupled with growing foreign demand.

As for service receipts, they increased by 10.3 per cent from the amount realised in the year to May 2017 to $162.4 million, driven by receipts from tourism related activities.