ZANZIBAR — ZANZIBAR’S current account surplus has registered a significant increase in the last one year thanks to the tourism sector contribution.
According to the Bank of Tanzania (BoT), the current account balance witnessed a remarkable improvement, reaching a surplus of 506.9 million US dollars in the year ending May.
This marks a substantial rise from the 389.1 million US dollars’ surplus recorded during the corresponding period last year.
“The development was largely associated with an increase in service receipts, particularly from tourismrelated activities,” BoT’s latest monthly economic review said.
A current account surplus means that a country has more exports and incoming payments than imports and outgoing payments to other countries.
The tourism sector’s robust performance has been a key driver of Zanzibar’s economic growth, contributing significantly to the balance of payments.
The report said service receipt, particularly tourism rose by 12 per cent to 1.020 billion US dollars, following increased tourist arrivals.
Generally, exports of goods and services amounted to 1.084 billion US dollars a year to May, higher than 975.8 million US dollars in a similar period last year, owing to an increase in service receipts.
Conversely, cloves exports declined by 32 per cent to 28.9 million US dollars from the level recorded in the corresponding period last year, due to the cyclical nature of the crop.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
ALSO READ: Mwinyi urges action on tourism, fisheries threats
On a monthly basis, exports of goods and services rose to 103.4 million US dollars in May from 67.1 million in May, driven by services, particularly tourism-related activities.
On the other hand, imports of goods and services decreased slightly by 0.6 per cent to 591.8 million in the year ending.
“The decrease is largely explained by the fall in goods imports, particularly intermediate and consumer goods,” BoT said.
The decline in intermediate goods imports was largely due to a decrease in imports of industrial supplies and fuel and lubricants.
The decrease in consumer goods imports was mostly on account of the decrease in food and beverages, particularly for household consumption and non-industrial transport equipment.
Meanwhile, capital goods imports recorded an increase, largely attributed by the ongoing infrastructure developments.
Month-to-month imports of goods (FoB) and services amounted to 43.7 million US dollars in May, slightly lower than 49.7 million US dollars registered last May.
Experts highlight that the surge in tourist arrivals and increased visitor spending have bolstered service revenues, thereby enhancing the current account surplus.
This trend underscores the importance of tourism as a vital component of the nation’s economy.
Zanzibar has a unique economic structure shaped by its history, geography, and political status
Source: allafrica.com
Share this news
This Year's Most Read News Stories
Kampuni ya Elon Musk kuzindua mtandao Tanzania
Huduma ya mtandao ya Elon Musk ya Starlink inatarajiwa kupatikana nchini Tanzania katika robo ya kwanza ya 2023, huku wachambuzi wakisema maendeleo hayo mapya yatakuza uchumi wa kidijitali.Continue Reading
For years, a UK mining giant was untouchable in Zambia for pollution until a former miner’s son took them on
For years, the people in the villages around Chingola in Zambia endured frequent health challenges and dead fish floating around in their water source, but that was just the beginning of their nightmare.Continue Reading
Tanzania Confirms Outbreak of Marburg Virus Disease
Dodoma — Tanzania today confirmed an outbreak of Marburg virus disease in the northwestern Kagera region after one case tested positive for the virus following investigations and laboratory analysis of suspected cases of the disease.
President of the Republic of Tanzania, Her Excellency Samia Suluhu Hassan, made the announcement during a press briefing alongside World Health Organization (WHO) Director-General, Dr Tedros Adhanom Ghebreyesus, in the country’s administrative capital Dodoma.
“Laboratory tests conducted in Kabaile Mobile Laboratory in Kagera and later confirmed in Dar es Salaam identified one patient as being infected with the Marburg virus. Fortunately, the remaining suspected patients tested negative,” the president said. “We have demonstrated in the past our ability to contain a similar outbreak and are determined to do the same this time around.”
A total of 25 suspected cases have been reported as of 20 January 2025, all of whom have tested negative and are currently under close follow-up, the president said. The cases have been reported in Biharamulo and Muleba districts in Kagera.
“We have resolved to reassure the general public in Tanzania and the international community as a whole of our collective determination to address the global health challenges, including the Marburg virus disease,” said H.E President Hassan.
WHO is supporting Tanzanian health authorities to enhance key outbreak control measures including disease surveillance, testing, treatment, infection prevention and control, case management, as well as increasing public awareness among communities to prevent further spread of the virus.
“WHO, working with its partners, is committed to supporting the government of Tanzania to bring the outbreak under control as soon as possible, and to build a healthier, safer, fairer future for all the people of Tanzania,” said Dr Tedros. “Now is a time for collaboration, and commitment, to protecting the health of all people in Tanzania, and the region, from the risks posed by this disease.”
Marburg virus disease is highly virulent and causes haemorrhagic fever. It belongs to the same family as the virus that causes Ebola virus disease. Illness caused by Marburg virus begins abruptly. Patients present with high fever, severe headache and severe malaise. They may develop severe haemorrhagic symptoms within seven days.
“The declaration by the president and the measures being taken by the government are crucial in addressing the threat of this disease at the local and national levels as well as preventing potential cross-border spread,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “Our priority is to support the government to rapidly scale up measures to effectively respond to this outbreak and safeguard the health of the population,”
Tanzania previously reported an outbreak of Marburg in March 2023 – the country’s first – in Kagera region, in which a total of nine cases (eight confirmed and one probable) and six deaths were reported, with a case fatality ratio of 67%.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
In the African region, previous outbreaks and sporadic cases have been reported in Angola, the Democratic Republic of the Congo, Ghana, Kenya, Equatorial Guinea, Rwanda, South Africa and Uganda.
Marburg virus is transmitted to people from fruit bats and spreads among humans through direct contact with the bodily fluids of infected people, surfaces and materials. Although several promising candidate medical countermeasures are currently undergoing clinical trials, there is no licensed treatment or vaccine for effective management or prevention of Marburg virus disease. However, early access to treatment and supportive care – rehydration with oral or intravenous fluids – and treatment of specific symptoms, improve survival.
Source: allafrica.com
