Tanzania’s gold exports rise by 23%

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Tanzania’s Central Bank said on Thursday that gold exports rose by 23% in the year to July.

The bank data showed that exported gold worth $1.549 billion in the 2018 calendar year, up slightly from $1.541 billion a year earlier.

“The value of gold exported (in the year ending July 31) … grew at an annual rate of 23.3% to $1.783 billion because of an increase in export volume,” the (central) Bank of Tanzania in its latest monthly economic report.

Gold accounts for more than 40 percent of the East African nation’s non-traditional exports.

Peace PIAK