DAR ES SALAAM Nov 12 Tanzania's current account
deficit widened 26.1 percent in the year to September following
a decline in receipts of aid and loans, its central bank said on
The deficit narrowed to $4.676 billion in the 12 months to
September from $3.707 billion during the same period last year.
"Official current transfers declined by 43.7 percent from
the levels recorded in the year ending September 2012 resulting
into widening of the current account deficit by 26.1 percent,"
the Bank of Tanzania said in its latest monthly economic report.
The bank did not explain the sharp fall in official current
transfers which are composed of aid and loans from external
Tourism earnings outpaced gold exports as the country's top
foreign exchange earner due to higher visitor arrivals, fetching
$1.818 billion from $1.61 billion a year ago, representing a 13
Gold exports declined to $1.747 billion in the year to
September, from $2.151 billion a year ago, due to a decline in
both export volumes and prices.
Tanzania, which has a population of around 45 million, is
Africa's fourth-largest gold producer after South Africa, Ghana
The value of traditional exports declined 8 percent to
$818.2 million in the year ending September 2013 from $889.4
million previously, due to a decline in both export volumes and
prices of sisal, cashew nuts and cloves.
The country's total bill for imports of goods and services
rose 2.9 percent in the 12 months through September to $13.319
billion, while the value of its exports of goods and services
fell 1.4 percent to $8.242 billion.
Gross official foreign exchange reserves held by the central
bank rose to $4.59 billion in the year to September, or about
4.5 months of import cover, from $4.06 billion a year ago, the
central bank said.
(Reporting by Fumbuka Ng'wanakilala; Writing by James Macharia;
editing by Ron Askew)