According to the Bank of Tanzania (BoT), monthly economic review, Tanzania exported coal valued at 195.5 million US dollars in the year ending January almost nine times compared to 22.2 million US dollars recorded in the corresponding period in 2022.
Much of the coal was destined for the regional markets that are Kenya, DRC, Rwanda and Uganda with Poland, Hong Kong, India and Senegal as other destinations. The international coal market remained tight in 2022, with coal demand for power generation set to hit a new record.
Coal prices rose to unprecedented levels in March and then again in June, pushed higher by the strains caused by the global energy crisis, especially the spikes in natural gas prices, as well as adverse weather conditions in Australia, a key international supplier.
According to the central bank report, other minerals which contributed to the increase in exports in the reference period are diamonds and gold.
During the period under review, diamond exports increased to 62.5 million US dollars from 8.7 million US dollars in the corresponding period in 2022, owing to the resumption of production at Williamson Mines.
Gold exports also increased to 2,904 million US dollars from 2,655.8 million US dollars on account of both volume and price effects.
The exports of goods and services increased to 12,258.7 million US dollars in the year ending January from 9,983.7 million US dollars in the previous year mostly driven by non-traditional exports, particularly minerals and manufactured goods; and services receipts—tourism.
Much of the increase was registered in manufactured goods exports, mainly fertilizers, textiles, and iron and steel, explained by increasing demand from neighboring countries particularly the Democratic Republic of Congo (DRC).
Exports of traditional goods also rose to USD 754.6 million from USD 657.8 million, with all crops recording increases except clove and tea. The increase was mostly owing to price effects. On monthly basis, traditional exports fell to USD 66 million in January 2023 from USD 77.8 million in January 2022, while non-traditional exports increased by 48.2 percent to USD 484.6 million up from USD 326.9 million in January 2022.