Zanzibar exports fall by 77pc amid decline in goods value

Dar es Salaam. Zanzibar exports of goods and services fell by 77 percent during the year ending October, 2019 on accounts of decline on value of goods exports.

The Bank of Tanzania (BoT) monthly economic review for November shows that the Isles exports went down to $17.1 million during the year ending October this year from $52.8 million recorded during the year ended in October last year.

The decline was recorded on almost all exports of goods with exception of fish and fish products, which rose by 85 to $931,500 from $503,400 respectively.

The increase of fish and fish products during the period was on account of increased demand of fish, particularly anchovies, in the Great Lakes region

According to the report, the major slowdown recorded on cloves which its value fell by 94 percent to $2.3 million from $38.2 million respectively following the drop of exports volume by 93 percent, on account of low season.

“The fall of cloves was largely on account of a decline in the volume of cloves exported, which is associated with cyclical nature of the crop,” says BoT review.

The unit price for cloves also went down to $6,800 per tonne in October this year, from $7,873.4 per tonne in October 2018.

The review shows that seaweeds exports value also fell by 13 percent during the period under review to $4.6 million to $4 million respectively on account of slowdown of volume by 32 per cent.

However, the unit price for seaweeds improved by 28 per cent to $516.9 per tonne from $402.7 per tonne respectively.

The report shows that manufactured goods exports also fell to $3.8 million from $6.9 million while other exports fell by 58.3 per cent to $1 million from $2.4 million.

Meanwhile earnings from services in Zanzibar grew by 13.9 percent to $195.9 million in the year ending October 2019 from $172 million recorded in October 2018, mainly owing to increase in receipts from travel related services including tourism.