Dar es Salaam. Tanzania exported $141.6 million (Sh325.6 billion) worth of coal due to increasing demand fueled by the global energy crisis in the year ending November, 2022.
This was more than ten times the value that was exported in the corresponding period in 2021, at $13.2 million (Sh30.3 billion).
According to Bank of Tanzania's (BoT) monthly economic review report (MER), Tanzania has benefited amid the global energy crisis which has led to increased reliance on coal for generating power.
“Most of the coal was destined to neighbor countries including Kenya, Democratic Republic of Congo, Rwanda and Uganda; and other countries including Poland, Hong Kong, India and Senegal," the central bank's report reads in part.
The report says that as coal demand for power generation continues to rise, the international coal market will remain tight in 2023.
During the past year, coal prices have risen to unprecedented levels and the world's three largest coal producers – China, India, and Indonesia – have all broken production records.