SIGNIFICANCE OF TRADE TO TANZANIA
Economic Growth: Trade creates numerous job opportunities through the several industries set up to meet the demand of various goods. A high demand of certain goods encourages specialization in production, which lead to high quality of goods Foreign exchange: Through international trade a country is able to acquire foreign currency which enables the said country to import goods from other countries. Industrial growth: Goods with a high demand stimulate industrial growth because several manufacturers compete to put up industries to meet the demand. Source of revenue: Trade generates revenue to a country through taxation of commodities and services rendered. Sales tax and other custom duties are some of the ways of raising revenue for a country. Development of Infrastructure: Trade usually demands good transport facilities, as this enables goods to reach their destination in good time. Employment opportunities. Trade creates employment opportunities in the industries that are establ...