Page last updated on February 11, 2013
Economy - overview:
Tanzania is one of the world's poorest economies in terms of per capita income, however, it has achieved high growth based on gold production and tourism. The economy depends 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 2009-12 was a respectable 6% per year due to high gold prices and increased production.
GDP (purchasing power parity):
$73.5 billion (2012 est.)
country comparison to the world: 85
$69.01 billion (2011 est.)
$64.83 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$27.98 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
6.5% (2012 est.)
country comparison to the world: 33
6.4% (2011 est.)
7% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$1,700 (2012 est.)
country comparison to the world: 201
$1,600 (2011 est.)
$1,600 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 27.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
24.1%
services:
48.7% (2012 est.)
Labor force:
24.77 million (2012 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)
Distribution of family income - Gini index:
37.6 (2007)
country comparison to the world: 75
34.6 (2000)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
26.5% of GDP (2012 est.)
country comparison to the world: 38
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $6.075 billion
[see also: Budget revenues country ranks ]
expenditures:
$7.67 billion (2012 est.)
Taxes and other revenues:
21.7% of GDP (2012 est.)
country comparison to the world: 147
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-5.7% of GDP (2012 est.)
country comparison to the world: 167
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
34.4% of GDP (2012 est.)
country comparison to the world: 104
37.6% of GDP (2011 est.)
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
15.3% (2012 est.)
country comparison to the world: 213
12.7% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
8.25% (31 December 2010 est.)
country comparison to the world: 95
3.7% (31 December 2009 est.)
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
21.3% (31 December 2012 est.)
country comparison to the world: 49
14.96% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$4.964 billion (31 December 2011 est.)
country comparison to the world: 101
$4.327 billion (31 December 2010 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$8.285 billion (31 December 2011 est.)
country comparison to the world: 114
$7.568 billion (31 December 2010 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$6.803 billion (31 December 2012 est.)
country comparison to the world: 110
$5.665 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$1.539 billion (31 December 2011)
country comparison to the world: 104
$1.264 billion (31 December 2010)
$1.293 billion (31 December 2008)
[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); mining (diamonds, gold, and iron), salt, soda ash; cement, oil refining, shoes, apparel, wood products, fertilizer
Industrial production growth rate:
7% (2010 est.)
country comparison to the world: 42
[see also: Industrial production growth rate country ranks ]
Current account balance:
-$3.946 billion (2012 est.)
country comparison to the world: 156
