Z’bar exports up 30pc as cloves make resurgence
What you need to know:
Earnings from export of goods and services in Zanzibar rose by 28.7 per cent in the year ending September 2018, thanks to increased earnings from goods export especially cloves and seaweeds. Clove and seaweeds exports accounted for 79.4 per cent of total goods exports.
Dar es Salaam. Zanzibar earnings from exports of goods and services rose by 28.7 per cent in the year to September 30, 2018.
That happened because cloves and services performed well.
The Bank of Tanzania’s economic review for October showed that Zanzibar’s earnings from exports of goods and services rose to $234.7 million in the year to September 30, 2018 from $175.6 million in the year to September 30, 2017. “The increase in earnings from clove exports is associated with enhanced government extension services and cyclical nature of the crop,” noted the central bank.
Its report indicated that clove exports increased to $49.6 million on September 30, 2018 from $26.9 million on September 30, 2017.
However, the crop unit price eased to $7,874.0 per tonne from $7,940.2 per tonne during the same period. The BoT computation and Tanzania Revenue Authority data show that the volume of exported cloves by Zanzibar in the year to September 30, 2018 increased to 6,300 tonnes from 3,400 tonnes in the year to September 30, 2017.
Seaweed export increased to 14,200 tonnes valued at $4.85 million from 4,200 tonnes worth $1.89 million during the same period.
However, the seaweed unit price per tonne dwindled to $333,300 from $447,700.
Manufactured exports rose to $7.2 million from $5.2 million.
Fish and fish products exports surged owing to growing markets, especially in neighbouring countries.
According to the report, $437,200 was earned from fish in the year to September 30, this year from $42,300 in the year to September 30, 2017.
