Tanzania’s current account deficit more than doubles YoY

Deficit reached $3.7 billion in May, as country turns to IMF for support

Bank of Tanzania

Tanzania’s current account deficit doubled in the year ending May 2022, driven by increases in prices of oil, transport and iron sheets. 

Imports of goods and services rose by $4.2 billion to $13.8 billion. The Bank of Tanzania’s Monthly Economic Review shows the deficit reached $3.7 billion, up from $1.7 billion in May 2021. The central bank attributes this to “higher imports relative to exports” as a result of high commodity prices in the agriculture-based economy. 

Tanzania’s main imports

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account