Gold exports continue to fall

. Tanzania’s fish exports are falling despite a high demand internationally.

>The fall in global prices for gold is creating new dimensions in the measurement of most important sectors of Tanzania’s economy with manufacturing ranking high on the seesaw.

 Exports declined by 1.4 per cent in the year ending February this year, the Bank of Tanzania (BoT) has said.

Tanzania is still exporting huge cargo of unprocessed gold to Japan as East Africa’s second largest economy still lacks the technology to refine its reddish yellow metal locally.

Acting (STAMICO) Managing Director Engineer Edwin Ngonyani Left and Director Of Finance and Corporate Affairs Mr Peter Gembe. BY STAFF REPORTER PRODUCTION of gold at the Buckreef Gold Mine in Geita Region in which the State Mining Corporation (Stamico) has 45 per cent stake is expected to kick-start in November this year, it has been learned. Stamico signed an agreement for development of the project in the year 2011 with...

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The export pattern have been changing for the better in recent years, but more needs to be done, taking into consideration the fact that imports have continued to outpace exports.

The value of Tanzania’s annual exports was about $8.48 billion last year, dropping slightly from the previous year’s $8.60 billion.