Gold Export of Tanzania in 2024: A Comprehensive Trade Analysis

Tanzania has reported a significant hike in gold exports. Driven by the effective productivity of the mineral reserves and the extraction techniques, the rising global prices have been considered as a crucial factor for the attraction of higher export revenue. Tanzania Import Data says that the improved supply capacity fostered by the greater gold production and the introduction of advanced mining technologies, such as automated drilling and extraction, along with the establishment of local refineries, has facilitated the overall revenue rate.

The country, with its thriving gold production, has recorded itself as a primary contributor to Uganda’s raw gold within the EAC. The government authorities’ focus on the raw exports to processing and refining, along with the special economic role supporting the downstream mineral processing investments, has resulted in an export trade value of gold worth 6.5 billion US dollars in 2024. Subscribe to Import Globals, an import export trade provider, to stay updated with the latest information regarding the gold export of Tanzania via the Tanzania Trade Data.

POLICY REFORMS SUPPORTING THE EXPORT OF GOLD FROM TANZANIA IN 2024

The mandatory gold allocation to the Bank of Tanzania has strengthened the foreign reserves by introducing stability in the shilling processes. It has ensured the smooth flow of gold through formal channels by removing the risks associated with smuggling. The establishment and promotion of local gold refineries, encouraged by the government, private and joint ventures, has increased the value addition within Tanzania with a reduction in the raw exports. It has created jobs while raising the export earnings through refined gold.

Despite the low value concentrated in the global supplies, the tax and royalty incentives for formal trade have incentivized the small and large-scale farmers to boost their official export volumes and tax revenue. The investment in special economic zones for mineral processing has actively influenced the private sector participation to increase the foreign direct investment that has supported the export diversification by relating gold with broader industrialization goals.

THE LEADING VARIANTS OF GOLD EXPORTED FROM TANZANIA IN 2024

Tanzania, for maintaining stability in the sturdy growth rate and export revenue, has introduced diversification in the export portfolio. According to the Tanzania Export Data, the top 10 leading variants of gold exported from the nation in 2024 are,

· Gold Bullion — The annual valuation of Gold Bullion exported from Tanzania in 2024–1.87 billion US dollars

· Gold Nuggets — The annual valuation of Gold Nuggets exported from Tanzania in 2024–1.21 billion US dollars

· Gold Dust — The annual valuation of Gold Dust exported from Tanzania in 2024–1 billion US dollars

· Gold Ore — The annual valuation of Gold Ore exported from Tanzania in 2024–879 million US dollars

· Gold Concentrates — The annual valuation of Gold Concentrates exported from Tanzania in 2024–769 million US dollars

· Gold Dore Bars — The annual valuation of Gold Dore Bars exported from Tanzania in 2024–678 million US dollars

· Gold Powder — The annual valuation of Gold Powder exported from Tanzania in 2024–598 million US dollars

· Gold Alloy — The annual valuation of Gold Alloy exported from Tanzania in 2024–478 million US dollars

· Gold-Plated Jewelry — The annual valuation of Gold-Plated Jewelry exported from Tanzania in 2024–367 million US dollars

· Gold Coins — The annual valuation of Gold Coins exported from Tanzania in 2024–276 million US dollars

THE TOP 10 EXPORT TRADE PARTNERS OF TANZANIA IN 2024

Tanzania, via its thriving production capacity and different steps taken by the government authorities towards supply chain integration, has maintained compatibility with the globally growing importers. According to the Tanzania Customs Data, the top 10 export trade partners of the nation for gold export in 2024 are,

1. India — The annual valuation of gold exported from Tanzania to India in 2024–1.45 billion US dollars

Top 5 variants of gold exported

  • Gold Bullion Coins
  • Gold Concentrates
  • Gold Alloy
  • Gold-Plated Watches
  • Gold Ingots

2. Uganda- The annual valuation of gold exported from Tanzania to Uganda in 2024–1.21 billion US dollars

Top 5 variants of gold exported

  • Gold Nuggets
  • Gold Dust
  • Gold Bullion
  • Gold Powder
  • Gold Leachates

3. United Arab Emirates- The annual valuation of gold exported from Tanzania to the United Arab Emirates in 2024–1.08 billion US dollars

Top 5 variants of gold exported

  • Gold Processed from Quartz
  • Gold Extracted from Tailings
  • Gold Dore Bars
  • Gold Scrap
  • Raw Gold Ore

4. South Africa- The annual valuation of gold exported from Tanzania to South Africa in 2024–1 billion US dollars

Top 5 variants of gold exported

  • Gold Processed from Quartz
  • Gold Extracted from Tailings
  • Gold Dore Bars
  • Gold Scrap
  • Raw Gold Ore

5. China- The annual valuation of gold exported from Tanzania to China in 2024–987 million US dollars

Top 5 variants of gold exported

  • Raw Gold Ore
  • Gold Coins
  • Gold-Plated Jewelry
  • Gold Waste By-products
  • Refined Gold

6. Kenya- The annual valuation of gold exported from Tanzania to Kenya in 2024–812 million US dollars

Top 5 variants of gold exported

  • Gold Coins
  • Gold-Plated Jewelry
  • Gold Waste By-products
  • Refined Gold
  • Gold Used in Medical Devices

7. Switzerland- The annual valuation of gold exported from Tanzania to Switzerland in 2024–765 million US dollars

Top 5 variants of gold exported

  • Gold Bars
  • Gold Bricks
  • Gold Alloys
  • Scrap Gold
  • Impure Gold

8. United Kingdom- The annual valuation of gold exported from Tanzania to the United Kingdom in 2024–562 million US dollars

Top 5 variants of gold exported

  • Gold in Alloy Form
  • Gold Extracted from Tailings
  • Gold Bullion Coins
  • Gold-Plated Jewelry
  • Gold Coins

9. France- The annual valuation of gold exported from Tanzania to France in 2024–475 million US dollars

Top 5 variants of gold exported

  • Gold Bullions
  • Gold Dust
  • Gold Bricks
  • Gold Waste By-products
  • Gold Powder

10. Japan- The annual valuation of gold exported from Tanzania to Japan in 2024–387 million US dollars

Top 5 variants of gold exported

  • Refined Gold
  • Gold Coins
  • Gold Alloys
  • Gold Dusts
  • Scrap Gold

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