TANZANIA ECONOMIC OVERVIEW

Tanzania is one of the world's poorest economies in terms of per capita income, however, Tanzania average 7% GDP growth per year between 2000 and 2008 on strong gold production and tourism. The economy depends heavily on agriculture, which accounts for more than one-quarter of GDP, provides 85% of exports, and employs about 80% of the work force. The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's aging economic infrastructure, including rail and port infrastructure that are important trade links for inland countries. Recent banking reforms have helped increase private-sector growth and investment, and the government has increased spending on agriculture to 7% of its budget. Continued donor assistance and solid macroeconomic policies supported a positive growth rate, despite the world recession. In 2008, Tanzania received the world's largest Millennium Challenge Compact grant, worth $698 million. Dar es Salaam used fiscal stimulus and loosened monetary policy to ease the impact of the global recession. GDP growth in 2009-11 was a respectable 6% per year due to high gold prices and increased production. 

GDP (purchasing power parity):
$63.44 billion (2011 est.)
country comparison to the world: 85

$59.77 billion (2010 est.)

$56.1 billion (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ] 

 

GDP (official exchange rate):
$23.2 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
6.1% (2011 est.)
country comparison to the world: 43

6.4% (2010 est.)

6.7% (2009 est.)
[see also: GDP - real growth rate country ranks ] 

GDP - per capita:
$1,500 (2011 est.)
country comparison to the world: 197

$1,400 (2010 est.)

$1,400 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 27.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 24.2%
[see also: GDP - composition by sector - industry country ranks ]
services: 48% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
24.06 million (2011 est.)
country comparison to the world: 27
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 80%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 20% (2002 est.)

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
36% (2002 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 29.6% (2007)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
37.6 (2007)
country comparison to the world: 79

34.6 (2000)
[see also: Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
26.1% of GDP (2011 est.)
country comparison to the world: 55
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $4.949 billion
[see also: Budget revenues country ranks ]
expenditures: $6.393 billion (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
21.3% of GDP (2011 est.)
country comparison to the world: 149
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.2% of GDP (2011 est.)
country comparison to the world: 172
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
36.9% of GDP (2011 est.)
country comparison to the world: 82

34.4% of GDP (2010 est.)
[see also: Public debt country ranks ]
Inflation rate (consumer prices):
11.1% (2011 est.)
country comparison to the world: 196

7.2% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
8.25% (31 December 2010 est.)
country comparison to the world: 94

3.7% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]
Commercial bank prime lending rate:
18.1% (31 December 2011 est.)
country comparison to the world: 47

14.55% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$3.325 billion (31 December 2011 est.)
country comparison to the world: 112

$3.223 billion (31 December 2010 est.)
[see also: Stock of narrow money country ranks ]
Stock of broad money:
$7.562 billion (31 December 2011 est.)
country comparison to the world: 113

$7.528 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
Stock of domestic credit:
$5.077 billion (31 December 2011 est.)
country comparison to the world: 114

$4.647 billion (31 December 2010 est.)
[see also: Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$1.264 billion (31 December 2010)
country comparison to the world: 102

$1.293 billion (31 December 2008)

$541.1 million (31 December 2006)
[see also: Market value of publicly traded shares country ranks ]
Agriculture - products:
coffee, sisal, tea, cotton, pyrethrum (insecticide made from chrysanthemums), cashew nuts, tobacco, cloves, corn, wheat, cassava (tapioca), bananas, fruits, vegetables; cattle, sheep, goats

Industries:
agricultural processing (sugar, beer, cigarettes, sisal twine); diamond, gold, and iron mining, salt, soda ash; cement, oil refining, shoes, apparel, wood products, fertilizer
Industrial production growth rate: 7% (2010 est.)
country comparison to the world: 39
[see also: Industrial production growth rate country ranks ]

Electricity - production:
4.281 billion kWh (2008 est.)
country comparison to the world: 119
[see also: Electricity - production country ranks ]

Electricity - consumption:
3.431 billion kWh (2008 est.)
country comparison to the world: 124
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2010 est.)
country comparison to the world: 137
[see also: Oil - production country ranks ]

Oil - consumption:
38,000 bbl/day (2010 est.)
country comparison to the world: 108
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2009 est.)
country comparison to the world: 136
[see also: Oil - exports country ranks ]

Oil - imports:
30,040 bbl/day (2009 est.)
country comparison to the world: 103
[see also: Oil - imports country ranks ]

Natural gas - production:
658 million cu m (2009 est.)
country comparison to the world: 67
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
658 million cu m (2009 est.)
country comparison to the world: 94
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2009 est.)
country comparison to the world: 195
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2009 est.)
country comparison to the world: 137
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
6.513 billion cu m (1 January 2011 est.)
country comparison to the world: 85
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$2.071 billion (2011 est.)
country comparison to the world: 153

-$1.978 billion (2010 est.)
[see also: Current account balance country ranks ]
Exports:
$5.659 billion (2011 est.)
country comparison to the world: 109

$4.297 billion (2010 est.)
[see also: Exports country ranks ]
Exports - commodities:
gold, coffee, cashew nuts, manufactures, cotton

Exports - partners:
China 15.6%, India 11%, Japan 6.1%, UAE 5%, Germany 4% (2010)

Imports:
$8.65 billion (2011 est.)
country comparison to the world: 103

$7.125 billion (2010 est.)
[see also: Imports country ranks ]
Imports - commodities:
consumer goods, machinery and transportation equipment, industrial raw materials, crude oil

Imports - partners:
China 17.3%, India 15.4%, South Africa 7.9%, Kenya 7%, UAE 4.8%, Japan 4.2% (2010)

Reserves of foreign exchange and gold:
$3.573 billion (31 December 2011 est.)
country comparison to the world: 97

$3.645 billion (31 December 2010 est.)
note: excludes gold
[see also: Reserves of foreign exchange and gold country ranks ]
Debt - external:
$9.114 billion (31 December 2011 est.)
country comparison to the world: 95

$8.259 billion (31 December 2010 est.)
[see also: Debt - external country ranks ]
Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Tanzanian shillings (TZS) per US dollar -

1,571.1 (2011 est.)

1,409.3 (2010 est.)

1,320.3 (2009)

1,178.1 (2008)

1,255 (2007)


NOTE: The information regarding Tanzania on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tanzania Economy 2012 information contained here. All suggestions for corrections of any errors about Tanzania Economy 2012 should be addressed to the CIA.

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