THE current account deficit widened to 365.4 million US dollars during the period ending November last year from 213.1 million US dollars registered in the corresponding period a year before due to an increase in imports bill, coupled with a decrease in exports.

The Bank of Tanzania (BoT) monthly economic review for December last year shows that the exports of goods and services, during the period declined to 187.4 million US dollars from 195.7 million US dollars in the year ending November 2021 driven by goods exports.

During the period under review, cloves exports recorded an annual decline of 2.2 per cent which is mostly explained by the cyclical nature of the crop.

Meanwhile, service receipts in particular tourism rose during the review period, partly due to an increase in the number of tourist arrivals.

However, on a monthly basis, exports of goods amounted to 15.4 million US dollars in November last year higher than 10.4 million US dollars in November 2021.

Imports of goods and services rose to 557.1 million US dollars from 430.6 million US dollars recorded in the year ending November 2021 driven by intermediate and consumer goods imports.

The intermediate goods imports rose to 370.4 million US dollars from 239.3 million US dollars largely due to an increase in imports of iron, steel, plastic articles, refined white petroleum, edible oil and wheat.

The rise in consumer goods imports was mostly influenced by other consumer goods categories, particularly pharmaceutical products, soap and detergent, and textile apparel.

On month-to-month basis, imports amounted to 67.9 million US dollars in November last year compared to 34.1 million US dollars in November 2021.