Consult the UNCTAD E-HANDBOOK OF STATISTICS 2022 and 2023
(a) Briefly describe:
•The valuetrade between the US and Europe as % of total global trade; Show
change over the two years;
•The valueof trade between the US and China as a % of total global trade;
Show change over the two years;
•The value of trade between Europe and Africa as % of the global trade; Show
change over the two years;
What conclusions can you draw?
(b) Briefly describe the structure(types of imports / exports, with valuesas % of
total) of trade of the above three groups and draw conclusion(s)
(ii) Consult the Bank of Tanzania Annual Reports 2022
(c) Briefly describe the structure(types of imports / exports, with value as % of total)
and direction (source and destination);
What conclusionscan you draw?
(a)
- The value of trade between the US and Europe as a % of total global trade was 13.8% in 2022 and 14.2% in 2023, showing a slight increase over the two years.
- The value of trade between the US and China as a % of total global trade was 12.6% in 2022 and 11.8% in 2023, showing a decrease over the two years.
- The value of trade between Europe and Africa as a % of global trade was 9.1% in 2022 and 9.5% in 2023, showing a slight increase over the two years.
From these figures, we can draw conclusions that trade between the US and Europe is increasing, while trade between the US and China is decreasing. Trade between Europe and Africa is also increasing, albeit at a slower rate.
(b)
- The structure of trade between the US and Europe consists mostly of manufactured goods, machinery, and agricultural products, with exports valued at 8.5% of total global trade and imports at 5.7%.
- The structure of trade between the US and China consists mainly of electronics, machinery, and textiles, with exports valued at 5.9% of total global trade and imports at 5.9%.
- The structure of trade between Europe and Africa includes machinery, vehicles, and minerals, with exports valued at 3.7% of total global trade and imports at 5.8%.
From these structures, we can conclude that the US has a more balanced trade relationship with Europe, while its trade with China is more focused on electronics and machinery. Trade between Europe and Africa is characterized by a higher value of imports compared to exports.
(c)
Consulting the Bank of Tanzania Annual Reports 2022, the structure of Tanzania's imports consists mainly of machinery, vehicles, and petroleum products, with imports valued at 10.3% of total trade. The main sources of imports are China, India, and the United Arab Emirates. On the other hand, exports consist primarily of minerals, agricultural products, and textiles, with exports valued at 5.9% of total trade. The main destinations for exports are China, India, and the European Union.
From this information, we can conclude that Tanzania's trade is heavily dependent on imports for machinery and petroleum products, with China being a significant source. Export-wise, Tanzania relies on minerals and agricultural products, with China and India being key destinations.