By Business Insider Reporter
Tanzania’s cashew nut industry is set to become the country’s fifth-largest foreign exchange earner in 2025, according to projections from the Bank of Tanzania (BoT) and the Tanzania Revenue Authority (TRA).
The latest BoT review of the national economy shows that cashew nut exports are expected to generate US$527.6 million in 2025 – nearly double the earnings of last year.
In 2024, cashew nuts foreign exchange earnings amounted to US$225.6 million, up from US$206.4 million in 2023, when they ranked ninth among the country’s top 10 foreign exchange earners.
This year’s top exporters will be led by gold, with exports valued at US$4,322.3 million, up from US$3,189.4 million in 2024. Travel and tourism are projected to fetch US$3,845.4 million, followed by transportation at US$2,558.8 million.
Manufactured goods are expected to claim fourth place with US$1,423.1 million, just ahead of cashew nuts. Other key contributors include tobacco (US$355.5 million), cereals (US$341.2 million), and coffee (US$324.5 million).
These top-performing sectors have helped Tanzania post a robust external performance in the year ending August 2025, strengthening the country’s trade position despite global trade tensions. They also contributed to narrowing the current account deficit to US$2,022.2 million, down from US$3,066.1 million in the previous year.
“A more favourable trade balance, characterized by higher export growth relative to import bills, explains the improvement,” the BoT noted in its September 2025 Monthly Economic Review (MER).
During the year ending August 2025, exports of goods and services grew 14.8 percent to US$16,894.4 million, with goods alone rising 22.7 percent to US$9,886.9 million. The growth was driven by increased exports of gold, manufactured goods, cashew nuts, tobacco and cereals.
Traditional exports also rose 28.3 percent to US$1,411.7 million, fueled by higher prices and volumes of cashew nuts, tobacco, and coffee.
The government anticipates a record cashew nut output of 700,000 tonnes in the 2025/26 marketing season, which should further boost export earnings next year. Last season, Tanzania exceeded expectations by producing 528,000 tonnes of raw cashew nuts against a target of 500,000 tonnes.
Senior officials at the Tanzania Cashewnut Board (TCB) confirmed that preparations are in place for a competitive 2025/26 marketing season. Over 80 companies have already registered to purchase cashew nuts through the Tanzania Mercantile Exchange (TMX) platform, according to TCB Chairman, retired Brigadier General Aloyce Mwanjile.
Cashewnuts remain one of Tanzania’s leading non-traditional exports, alongside coffee and tobacco, generating hundreds of millions of dollars annually and supporting nearly one million farming households, primarily in Mtwara, Lindi, and Ruvuma regions. They are also grown in Tanga, Morogoro, and the Coast regions, benefiting numerous households.
As one of 13 priority crops under the Agenda 10/30 Roadmap, cashewnuts play a crucial role in transforming Tanzania’s agriculture from subsistence-based to business-oriented.
The roadmap aims to raise the crop subsector’s GDP growth rate from 5.4 percent to 10 percent by 2030, with annual cashew nut production projected to reach one million tonnes. Other focus crops include maize, rice, wheat, beans, cotton, sunflower, cassava, coffee, avocado, soybeans, sorghum, and sisal. Within the Dira 2050 development framework, cashew nuts are expected to contribute significantly to job creation, export earnings, value addition, agro-industrialisation, and improving rural livelihoods.
