Top 5 export products of Tanzania in 2020
A small country situated on the south East African coast, the United Republic of Tanzania is a relatively modest country, and a minor trading partner of large nations. In 2019, it shipped about USD 2.9 billion worth of goods around the world.
Tanzania is a country of wilderness. So, some of its main export products are agricultural commodities. They include tobacco, coffee, cotton, cashew nuts, tea, and cloves.
Exports on the Rise
Tanzania always flourishes in its exports in gold and other precious materials like diamonds and precious stones. It is a competitive player in the gems and precious metals section of international trade, with only more potential to grow in the coming years.
In more recent trade trends, Tanzania has seen a rise in its ore, slag, and ash exporters. In the past few years, these materials have made their way into the top ten exports of the country. From 2018 to 2019, it has gone up by 17,182% from 2018 to 2019. There has also been a recent increase in demand in the international markets. The situation has allowed Tanzania to see a rise in its sales of tin and manganese. In second place for improving export sales was copper via a 4,044% gain. Tanzania has also seen an increase in shipments of mineral fuels and crude oil. It has become the third fastest-growing sector to gain value, rising in exports by 130.6%.
In 2020, the exports in Tanzania were USD 1444.60 million in the first quarter. In the second quarter, the figures increased to USD 1476.24 million.
The rest of the world is unclear about how Tanzania is handling its pandemic. The government has not released any figures about its cases. The country’s prime minister notified its people that there were 66 active coronavirus cases, but has not provided further details, yet.
Tanzania conducts trade with a whole host of countries. Some of its largest trading partners are from the African continent. Its most important trading partner is Rwanda accounting for a share of 18.6 per cent in trade, followed by Kenya with a 9.23 per cent in trade, the Democratic Republic of Congo with a share of 8.47%, and Uganda with a share of 4.08%.
Tanzania’s also ships its exports to the US, China, India, Japan, China, United Arab Emirates, Netherlands, and Germany. However, it is essential to note they make up a small, almost negligible amount of the trade share.