Tanzania’s earnings from travel dropped by 59.2 percent in December 2020 to $1.06 billion, resulting in a decline in overall earnings from export goods and services by $849.3 million.
According to the Bank of Tanzania's (BoT) monthly economic review for January, “the number of international tourist arrivals declined to 616,491 from 1,527,230 in the year ending December 2019.”
Before the global pandemic, tourism was Tanzania’s leading source of forex, earning $2.5 billion in 2019, according to data from the Ministry of Natural Resources and Tourism.
The value of traditional exports dropped to $8.8 billion in December 2020, from $9.65 billion in December 2019. The central bank attributed the decrease to declines in export values of low production of coffee and cotton, and reduced volumes and prices of tea and sisal.
On a month-by-month basis, the value of traditional goods exports decreased to $135.5 million in December 2020 from $153 million in the same month in 2019.
This was largely due to low exports of cashewnuts, tobacco, and sisal consistent with the export season for most cash crops.
Source: The EastAfrican