Tanzania has seen positive growth in both exports and imports, with efforts towards reducing the trade deficit. This research shows an overall improvement in the trade balance.

Export Growth:

• Tanzania has experienced a positive trend in the export of goods and services.
• The export values have increased consistently over the three years, with a significant 15% growth from 2022 to 2023 and a substantial 41% growth over the two-year period from 2021 to 2023.
• This growth shows an expansion in the international market for Tanzanian goods and services.

Import Growth:

• Import values have also risen, but at a slightly slower pace compared to exports. There was a modest 1% increase from 2022 to 2023 and a more substantial 50% increase over the two-year period from 2021 to 2023.
• The higher rate of import growth might contribute to concerns about trade imbalances and potential pressure on foreign exchange reserves.

Balance of Payment:

• The Balance of Payment represents the difference between exports and imports. A negative balance indicates a trade deficit.
• Tanzania's trade deficit has narrowed from 2022 to 2023, as evidenced by the 39% reduction in the deficit. However, it's important to note that there is still a deficit, albeit a smaller one.
• The two-year change shows a significant 128% reduction in the trade deficit from 2021 to 2023, indicating improvement in the overall trade balance. This could be attributed to the faster growth rate of exports compared to imports.

The Balance of Payment represents the difference between the value of exports and the value of imports. A negative balance indicates a trade deficit (import > export), while a positive balance indicates a trade surplus (export > import). The percentage changes provide insights into the trends and shifts in the trade balance over the specified periods.

Export of Goods and Services:

• 2021: TZS9,609 million
• 2022: TZS11,730 million
• 2023: TZS13,544 million
  • 1-Year Change (2022 to 2023): +15%
  • 2-Year Change (2021 to 2023): +41%

Import of Goods and Services:

• 2021: TZS10,764 million
• 2022: TZS16,061 million
• 2023: TZS16,173 million
  • 1-Year Change (2022 to 2023): +1%
  • 2-Year Change (2021 to 2023): +50%

Balance of Payment:

• 2021: -TZS1,154.6 million (deficit)
• 2022: -TZS4,331 million (deficit)
• 2023: -TZS2,628.4 million (deficit)
  • 1-Year Change (2022 to 2023): -39%
  • 2-Year Change (2021 to 2023): -128%