The Brief Insights of the Gold Export of Tanzania in 2024

Feb 20, 2025

The Brief Insights of the Gold Export of Tanzania in 2024

The efficiency of the mining industries and the increasing cost-friendly workforce engaged in those sectors have made the country a major contributor to the global economy via its diversification in export trends. The total value of gold exports from the nation is expected to continue its upward trajectory in the year 2024 with a total value of around 58 tons of gold showing a significant increase from the previous year’s value of 40 tons representative of the increasing investments in the mining activities for regulatory frameworks.

From a staggering export value of gold worth 2 billion US dollars in 2019; the trade firms of Tanzania have come a long way in building trade gaps with leading trade destinations by an export of gold worth 3 billion US dollars in 2024. With the proper focus on improving the working efficiency of the mining industries by correcting the malfunctioning units, the trade management authorities of Tanzania are expected to continue their upward trajectory in the upcoming times by fulfilling the global acquisition from the domestic industrial sectors.

The Leading Gold Exports From Tanzania in 2024

The increasing focus on the export industry has been steadily recording a hike in the overall export fostering the total value of gold exports simultaneously. According to the Tanzania Export Data, the top 10 leading gold export variants from the nation in 2024 are,

1. Gold ores and concentrates - Gold ores and concentrates are the categories of this costly metal which include raw materials that contain significant amounts of gold purposely used for feedstock for further processing or refining. The total export value of gold ores and concentrates in 2024 is 2.5 billion US dollars.

2. Unwrought or semi-manufactured Gold – These are semi-manufactured or undefined bars or ingots of gold that are supposed to be further processed into coins or jewelry in future expectations of the global market. The total export valuation of the same in the year 2024 is 1.5 billion US dollars.

3. Gold dore Bars - The semi-pure form of gold and silver mixed alloys produced in small-scale mines for further refining to be formed in the gold bullion. The annual export valuation is 1 billion US dollars.

4. Refined Gold – This is the purest form of gold that has undergone all the processes of refining like melting and assaying for the removal of the ultimate toxicities in the matter. The total export valuation of 2024 is 540 million US dollars.

5. Precious Metal Ores – This is a category that excludes gold exports but contributes a major part of the precious metallic ores export from the nation in 2024. Silver, platinum, and palladium-like categories are the costly metals that accompany gold in export at a rate of 480 million us dollars in 2024.

6. Scrap Gold – Scrap gold is the discarded or recycled jewelry by the targeted management firms. The increasing demand is because of its further probability of use in electronic components; export value stands at 356 million us dollars in 2024.

7. Third-Party Refined Gold – Third-party refined gold are the gold variants exported from Tanzania mostly refined by third-party companies; this may or may not be the purest form of gold but due to the better designs and longer shelf life the export value stands at 258 million us dollars in 2024.

8. Gold Coins – Gold coins are the most demanded products from different jewelry management firms worldwide. Manufactured gold coins from Tanzania are exported at a rate of 222 million U.S. dollars in 2024.

9. Worked Gold – Worked gold is the specific category of gold which includes properly finished gold products such as jewelry ornaments and artifacts which are in the highest demand among the purest form of alloyed gold. Export value stands at 189 million US dollars in 2024.

10. Other Gold Variants – Other gold variants are the category that includes the residues that are left after the formation of the popularly demanded gold variants. These are also exported for further use in the industrial sectors.According to the global acquisitions; export value stands at 100 million dollars in 2024.

Top 10 Export Trade Partners of Tanzania for Gold in 2024

The better political stability of Tanzania with the leading global trade destination estates and the significant contribution towards the modernization of the transportation infrastructure has recorded better trade relations in 2024. According to the Tanzania Trade Data, the top 10 export trade partners of the nation for gold export in 2024 are,

1. Switzerland – According to the Switzerland Import Data, the valuation of the gold exported from Tanzania in 2024 – 2.3 billion us dollars.