Chinese President Hu Jintao on an official state visit to Tanzania. A violation of Chinese waters escalated tensions between the US and the People's Republic of China during March 2009. President Kikwete in background.
Originally uploaded by Pan-African News Wire File Photos
DAR ESS SALAM (Commodity Online) : Tanzania’s gold exports rose by 59.2 per cent in the year to September 2010 due to an increase in both export volumes and gold prices on the world market.
Exports value increased to $1.5 billion from $906.5 million recorded in the same month in the previous year, according to country’s central bank.
"Statistics indicate that the export volume of gold has increased to 36.8 tonnes compared to 31.0 tonnes recorded in the preceding year, partly on account of commencement of export by the Buzwagi Gold Mine," Bank of Tanzania added.
The prices of gold, according to the report, increased to $1,157.9 per troy ounce in September 2010 compared with $896.2 per troy ounce recorded during in September 2009. Tanzania is Africa's fourth largest gold producer after South Africa, Ghana and Mali.
Meanwhile, the value of manufactured goods increased to $808.1 million, being 54.7 percent higher than the value recorded in a similar period in 2009, consistent with the recovery of the global economy from the financial crisis.
The report also said in the year ending to September, overall balance of payments recorded a deficit of $25.7 million, compared with a surplus of $619.8 million recorded in the corresponding period a year earlier.
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