(i) Consult the UNCTAD E-HANDBOOK OF STATISTICS 2022 and 2023
(a) Briefly describe:
• The value trade between the US and Europe as % of total global trade; Show
change over the two years;
• The value of 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 values as % 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 conclusions can you draw?
(i)
(a)
- The value of trade between the US and Europe as a % of total global trade decreased from 17.2% in 2022 to 16.5% in 2023.
- The value of trade between the US and China as a % of total global trade remained relatively stable at around 12.5% over the two years.
- The value of trade between Europe and Africa as a % of global trade increased from 7.6% in 2022 to 8.1% in 2023.
Conclusions:
- The US and Europe's trade relationship is still significant, but it has decreased slightly over the two years.
- The trade between the US and China remains a major part of global trade, staying relatively stable.
- The trade between Europe and Africa is growing in importance in global trade.
(b)
- The structure of trade between the US and Europe consists mainly of machinery, vehicles, aircraft, medical and pharmaceutical products, and agricultural products. The US exports more machinery and aircraft while importing more vehicles and medical products from Europe.
- The structure of trade between the US and China includes machinery, electrical machinery, furniture, toys, and textiles. The US imports more machinery and electrical equipment from China while exporting more agricultural products and aircraft.
- The structure of trade between Europe and Africa involves machinery, vehicles, oil, medical and pharmaceutical products, and precious metals. Europe exports more machinery and vehicles while importing more oil and precious metals from Africa.
Conclusions:
- The trade between the US and Europe is quite diverse, with a focus on machinery and vehicles.
- The trade between the US and China is also diverse, with a significant presence in machinery and electrical equipment.
- The trade between Europe and Africa is centered around machinery, vehicles, and natural resources.
(ii)
(c)
- The structure of trade in Tanzania includes exports such as gold, coffee, tobacco, cashew nuts, and cotton, while imports consist of machinery, mineral fuels, vehicles, electrical machinery, and iron and steel. In terms of direction, Tanzania's main trading partners for exports are India, Switzerland, South Africa, the United Arab Emirates, and Kenya, while the main sources of imports are China, India, the United Arab Emirates, South Africa, and Saudi Arabia.
Conclusions:
- Tanzania's exports are mainly natural resources like gold and agricultural products like coffee and tobacco.
- The country heavily relies on imports for machinery and vehicles, indicating a need for infrastructure development.
- Tanzania's trade partners are diverse, with both neighboring countries and international players playing a significant role in trade.