DAR ES SALAAM Feb 7 Tanzania's current account
deficit narrowed 14 percent to $3.44 billion in 2012 helped by a
strong jump in export revenues even though gold export volumes
dipped, its central bank said on Thursday.
Total exports of goods and services rose 17 percent to $8.68
billion, while the country's import bill for goods and services
rose 5.3 percent to $12.67 billion.
Export volumes rose for most of the traditional cash crops,
manufactured goods and horticultural products, the Bank of
Tanzania said in its latest monthly economic report.
Revenues from tourism increased to $1.56 billion from $1.35
billion a year earlier as visitor numbers rose. Earnings from
traditional exports - tobacco, cotton, coffee, cashew nuts and
tea - jumped 40 percent to $956.7 million.
Gold exports, the country's top foreign exchange earner,
edged down 2.4 percent to $2.17 billion. This was largely due to
a fall in volumes although high prices on the world market
underpinned revenues, the bank said.
Tanzania, with a population of around 45 million, is
Africa's fourth-largest gold producer after South Africa, Ghana
The value of oil imports rose 4.9 percent to $3.39 billion
in the year to December, largely due to a rise in world market
Gross official foreign exchange reserves held by the central
bank rose to $4.07 billion in the year to December, or about
four months of import cover, from $3.76 billion a year ago.
For more details, go to here
(Reporting by Fumbuka Ng'wanakilala; Editing by Richard