DAR ES SALAAM, Dec. 29 -- Strong export performance played a decisive role in narrowing the current account deficit in the year ending October, signalling a marked improvement in the countrys external balance as stronger foreign earnings helped offset import pressures.

During the period, current account deficit narrowed to 2.22 billion US dollars for the year ending October, down from 2.89 billion US dollars last year, equivalent to 2.4 per cent of GDP, marking a significant improvement from over 6 per cent of GDP in 2022.

Also, moderated import demand and improved external inflows contributed to the narrowing of the current account deficit, signaling enhanced macroeconomic stability and a more sustainable balance of payments position....