Imports and Exports of Tanzania

According to the World Trade organisation, Tanazania's trade, exports and imports were 61.4% of the countrie's GDP between 2006 and 2008.

When it comes to imports, these totalled $5.545 billion in 2009, compared to $7.08 billion in 2008. Major imports include machinery and transportation equipment, industrial materials, and crude oil; resources that Tanzania has difficulties producing itself.

A Tanzanian farmer
in2eastafrica.net

In 2009, Tanzania's exports totalled $2.744 billion, $2.413 billion more than the previous year. Its main exports are gold, coffee, cashew nuts, manufactured products and cotton. Seeing as 80% of Tanzania work within agriculture, it is easy to see how exports are a vital part of Tanzania’s people’s welfare. Still, Tanzania’s exports can be unpredictable. In the case of agricultural products, a World Trade Organisation (WTO) report mentions that food shortages caused by environmental disasters such as droughts and floods makes Tanzania’s export earnings varying and unpredictable.

There are also issues related to the gold industry. Even though the report notes that export of gold poses a great opportunity for economic growth for Tanzania, fluctuations of international gold prices makes also this export uncertain.

A worker at the Norwegian Flakstadvåg Laks
ndla.no

Tanzania’s lack of infrastructure also causes problems for Tanzania’s trade. According to the World Bank’s most recent Tanzania Economic Update, Tanzania misses out on significant trade profits due to inefficiency at the Port of Dar es Salaam, where 90% of Tanzania’s trade passes through.The report states that Tanzania could increase their GDP by $1.8 billion annually by taking measures such as preventing the delays of ships.

Norway, on the other hand, is a lot more established with regards to trade, imports and exports. For instance Norway has the fourth largest shipping fleet in the world. In addition to shipping, other major export sectors include fishing and other seafood, oil and gas, industrial machinery, timber and food processing. Accounting for over half of Norway’s exports and 25% of its GDP, the oil and gas export is vital for Norway’s economy. Although not a sustainable source of income on a long-term basis, this export is quite reliable, especially due to Norway’s restriction on oil usage, as well as it oil fund.

The Norwegian Troll A platform
en.wikipedia.org

In 2008, Norway’s exports were worth approximately $1.5 billion, whereas imports totalled 40 billion. Imports include fuels, industrial supplies, machinery, transportation and metals.

In a way, Tanzania and Norway are similar in that they both export a lot of natural resources, and import includes products such as machinery and industrial supplies. The countries’ situations are, however, greatly different due to the countries’ infrastructural and financial situation.