The Times of Tanzania
Eastern Africa News Network, Breaking News Tanzania

India versus Tanzania balance of Trade is Worlds Apart

While Tanzania exports more goods to India than what the country import from Delhi, the country is realizing low value from its annual exports.

India on the other hand, is raking in more value from what the country ships to Tanzania.

This is according to the data available from both the Central Bank of Tanzania (BOT) and the Tanzania Revenue Authority (TRA).

The Trend of Tanzania’s exports to India has however been on the increase from the USD 744 million worth of goods shipped to the Asian country in 2018 to the USD 1.17 billion realized during the fiscal year 2022-2023.

Even the figures from the United Nations tally to that, indicating that Tanzania Exports to India was USD 1.18 Billion during 2022.

In the year 2021 Tanzania exported goods worth USD 1 billion to India and previously in 2020 the country shipped consignments valued at USD 529 Million, while for the year 2019, Dar’s exports to Delhi raked in USD 868 Million.

On the other hand the trend of Tanzania’s imports from India also increased from USD 1.2 Billion, recorded in the year 2018 to more than USD 1.7 billion worth of goods bought from Delhi in the year 2022.

Previously in 2021 Tanzania received shipments of goods valued at USD 1.2 Billion from India.

In 2020, Tanzania imported products worth USD 1.09 Billion from India, while the country also received shipments of goods valued at USD 1.27 Billion from Delhi.

The decline in both imports and exports for the year 2020 could be attributed to the Covid-19 pandemic which affected the entire globe and stifled both production and transportation.

When it comes to the goods that Tanzania ships to India, these include soy beans, coconuts, cashew nuts, vegetables, cotton link, and jute.

Others are lentils, timber, cloves, gemstones, leather dried peas, pigeon peas, hides and skins as well as tropical wood, raw gold and chicken peas.

The main products that India usually exports to Tanzania are Refined Petroleum, Packaged Medicaments and Motorcycles and cycles.

While Tanzania seems to export more products to India than what the latter does, it is surprising that the value of the former remains low, though others feel it could be due to raw exports.

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