Tanzania Trade, Exports and Imports
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The World Trade Organization’s (WTO) estimates revealed that Tanzania’s trade, exports and imports represented 61.4% of the GDP during 2006-2008. In 2008, Tanzania’s merchandise exports amounted to more than $3 billion, while merchandise imports amounted to over $7 billion. In 2008, commercial service exports amounted to over $1.9 billion, while commercial service imports stood at over $1.6 billion.[br] Tanzania’s exports to the European Union (EU) dropped by €56.47 million in 2008 due to falling demand for commodities in the EU member nations. In 2007, total exports to the EU were worth €382.76 million, but dropped to €326.29 million in 2008. On the other hand, imports from the EU increased by €74 million in 2008 to widen the trade gap between Tanzania and the EU by €478.246 million, up from a deficit of €347.769 million in 2007.
Tanzania, a member of the East African Community (EAC), mainly exports agricultural products to Europe. Tanzania’s major imports include machinery and technical equipment from Europe. The signing of Economic Partnership Agreements (EPA) would enable Tanzania and rest of the EAC to export more to the EU markets by addressing the regions’ supply constraints.
Tanzania Trade: Exports
Tanzania’s primary export commodities include gold, coffee, cashew nuts, manufactured products and cotton. The country’s exports in 2009 were worth $2.744 billion, up from $2.413 billion in 2008. The following chart shows Tanzania’s distribution of its export partners. All data are in percentages.
Tanzania Trade: Imports
Tanzania’s primary import commodities include consumer goods, machinery and transportation equipment, industrial raw materials, and crude oil. The country’s imports were worth $5.545 billion in 2009, down from $7.08 billion in 2008. The following chart shows Tanzania’s distribution of its import partners. All data are in percentages.
Tanzania Trade: Exchange Rates
Tanzania’s currency is the Tanzanian shilling (TZS). The exchange rate of the TZS against the US dollar has been as follows:
1,251.9 (2006), and