Tanzania's gold exports hit record $2.8 Bn in 2023

Tanzania is blessed with the abundance of precious stones and metals. Tanzania had ample amounts of natural resources such as gold, tanzanite, silver, copper, nickel, graphite, uranium and iron ore. Tanzania has large reserves of gold as it is among the leading exporters of gold across the international market. 

According to Tanzania import export data, the country's gold exports were over $2.8 Billion in 2023. During May, the highest amount of gold exports were recorded in Tanzania as it crossed $510 million. India and South Africa were among the biggest importers of gold from Tanzania contributing to over 65% of the country’s overall gold exports last year. 

Switzerland and the United Arab Emirates were also the significant contributors to Tanzania gold exports revenue responsible for 26% share. Tanzania's gold articles showed great demand among Sri Lanka, Mauritius, Thailand, Egypt, Hong Kong and China.  Geita Gold Mining and North Mara Gold Mine were the two biggest gold exporting companies from Tanzania contributing to over 56% share of exports. 

Rand Refinery from South Africa and MMTC Pamp India were the two leading gold importers from Tanzania during last fiscal year. Whereas, the gold imports of Tanzania were quite negligible. Tanzania import data shows that these imports came from the Central African Republic, United Arab Emirates and Turkey. 

Tanzanite is another important precious metal export from Tanzania. Tanzania has restricted its exports of Tanzanite but still around $3 million worth of Tanzanite was exported last year. Tanzania export data shows Hong Kong was the biggest importer of Tanzanite. As, 39% of the country's overall Tanzanite exports went to Hong Kong. 

India and the United States were other prominent Tanzanite imports with 19% and 16% share respectively.  Thailand, Mauritius, United Arab Emirates and Switzerland were the fastest growing markets for Tanzanite imports. Afro Gems and Morris Gems were the leading Tanzanite export companies from Tanzania in 2023. 

In terms of silver exports, the revenue was estimated to be around $14 million in 2023. The United Arab Emirates was the biggest market for Tanzania's silver exports responsible for 95% market share. Whereas, Malawi and the United States were among the fastest growing markets for Tanzania's silver exports. Apart from gold, silver, tanzanite, copper was the vital export of Tanzania. 

For the fiscal year 2023, Tanzania's overall copper exports reached a record $7.8 Billion. Tanzania's highest amount of shipments recorded during March, showing around $4.6 Billion. Singapore was the biggest copper importer from Tanzania responsible for $4 billion worth of copper imports during last year.

India was the second leading copper importer from Tanzania with 16% share of copper imports. Among the fastest growing markets were China, Germany, Sweden and Kenya. Bulyanhulu Gold Mine and Katavi Mining were the top copper export companies from Tanzania responsible for the maximum amount of shipments last year.

Metals and Mining companies from Tanzania can utiltize international trade information from global import export data provider for comprehensive market research. These reports help Tanzanian companies reach out to the potential metal buyers from the international market along with their contact information. 

Also, Tanzanian companies can streamline their business and make more productive decisions regarding product pricing, quantity evaluation, competitor analysis and business prospects. This is the most economical approach for Tanzanian companies to expand their business effectively across the globe.