DAR ES SALAAM, Nov. 11 -- THE import of goods and services recorded a modest 4.5 per cent increase to 17.42 billion US dollars for the year ending August, largely reflecting a decline in imports of refined white petroleum products.

The latest Bank of Tanzania (BoT) monthly economic review shows that imports of refined white petroleum products fell by 11.4 per cent to 2.51 billion US dollars following a decline in global oil prices.

“This decline is significant for the economy as it reduces import costs, eases pressure on the trade balance and can help stabilise domestic fuel prices, providing relief to businesses and consumers alike,” the Bank report stated.

In contrast, imports of industrial supplies, transportation equipm...