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Tanzania increases gold export profits

Christian Fernsby ▼ | January 7, 2020
Tanzania's earnings from gold exports in 2019 increased by 42 percent over the previous year, the African country's Central Bank reported.
Tanzania gold mine
Economy in Africa   Tanzania gold mine
According to the report, the growth was helped by higher prices and the greater volumes exported.

Topics: Tanzania gold export

The Bank of Tanzania noted in its December monthly economic review that gold exports increased to $2.14 billion through November, while in the same period in 2018 they stood at $1.51 billion.

Total exports increased by 12 percent year-on-year to $9.53 billion in the year ending November 2019.

Tanzania is Africa's fourth largest gold producer, after South Africa, Ghana and Mali, and recently changed its mining code in an attempt to ensure that the country gains more from its minerals.