TANZANIA exports to Italy have gone up by almost 10 per cent last year thanks to increased foodstuffs and products of metallurgy. According to Italian Embassy in Tanzania, the exports, went up by 8.27 per cent to 41.6million euros last year from 38.42 million euros in 2016.
The Italian Ambassador to Tanzania, Mr Roberto Mengoni, said the trade between the two countries are on increasing trend indicating a growing business bilateral. "The Tanzania export has increased last year... and may also increase this year as well. Italy exports to Tanzania will also increase due to industrialisation," he said.
However, in the first five months of this year the country exports to Italy dropped slightly to 20.39 million euros from 24.35 million euros similar period last year. The drop, however, may be covered in the next seven months to clock similar or more figure of last year.
The number one export to Italy was agriculture, fisheries and forestry products that raked in 26.94million euros though down from 34.31 million euros generated last year.
The second was foodstuffs generated 7.74million euros, followed by metallurgy products raked in 3.36 million euros and leather goods that produced 0.77milion euros and other products brought 2.1million euros.
Trade balance is still in favour of Italy that exports 70.05 million euros worth of goods and services last year, though down from 78.52million euros previous year. Ambassador Mengoni said Rome mainly export machinery and equipment to Dar es Salaam as the economy embracing industrialisation initiative.
The total machinery and equipment exports were 24.23million euros up from 20.74 million euros in 2016. The second inline from Italy was food products standing at 6.8million euros, then chemical products 5.37milllion euros, coke and products resulting from oil refining 5.27million euros and metal products 5.01million euros
. Other nine goods were between 0.12 million euros and 4.0 million euros. The envoy has also pledged to continue supporting Italian companies in trading and investing in Tanzania to help in boosting industrialisation drive.
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Publish date : 2018-09-21 11:00:36