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Tanzania Economy 2009
http://www.theodora.com/wfbcurrent/tanzania/tanzania_economy.html
SOURCE: 2009 CIA WORLD FACTBOOK
 


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Economy - overview:
Tanzania is in the bottom ten percent of the world's economies in terms of per capita income. The economy depends heavily on agriculture, which accounts for more than 40% of GDP, provides 85% of exports, and employs 80% of the work force. Topography and climatic conditions, however, limit cultivated crops to only 4% of the land area. Industry traditionally featured the processing of agricultural products and light consumer goods. The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty. Long-term growth through 2005 featured a pickup in industrial production and a substantial increase in output of minerals led by gold. Recent banking reforms have helped increase private-sector growth and investment. Continued donor assistance and solid macroeconomic policies supported real GDP growth of 7.1% in 2008.

GDP (purchasing power parity):
$54.26 billion (2008 est.)
$50.67 billion (2007)
$47.29 billion (2006)
note: data are in 2008 US dollars

GDP (official exchange rate):
$20.63 billion (2008 est.)

GDP - real growth rate:
7.1% (2008 est.)
7.1% (2007 est.)
6.7% (2006 est.)

GDP - per capita:
$1,300 (2008 est.)
$1,300 (2007 est.)
$1,200 (2006 est.)
note: data are in 2008 US dollars

GDP - composition by sector:
agriculture: 27%
industry: 22.7%
services: 50.3% (2008 est.)

Labor force:
20.38 million (2008 est.)

Labor force - by occupation:
agriculture: 80%
industry and services: 20% (2002 est.)

Unemployment rate:
NA%

Household income or consumption by percentage share:
lowest 10%: 2.9%
highest 10%: 26.9% (2000)

Distribution of family income - Gini index:
34.6 (2000)

Investment (gross fixed):
24.2% of GDP (2008 est.)

Budget:
revenues: $4.216 billion
expenditures: $4.658 billion (2008 est.)

Public debt:
22% of GDP (2008 est.)

Inflation rate (consumer prices):
9.3% (2008 est.)

Central bank discount rate:
16.4% (31 December 2007)

Commercial bank prime lending rate:
16.03% (31 December 2007)

Stock of money:
$2.263 billion (31 December 2007)

Stock of quasi money:
$2.885 billion (31 December 2007)

Stock of domestic credit:
$2.25 billion (31 December 2007)

Market value of publicly traded shares:
$587.9 million (2005)

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:
10% (2008 est.)

Electricity - production:
2.682 billion kWh (2006 est.)

Electricity - consumption:
2.225 billion kWh (2006 est.)

Electricity - exports:
0 kWh (2007 est.)

Electricity - imports:
123 million kWh (2006 est.)

Oil - production:
0 bbl/day (2007 est.)

Oil - consumption:
27,270 bbl/day (2006 est.)

Oil - exports:
0 bbl/day (2005)

Oil - imports:
26,760 bbl/day (2005)

Oil - proved reserves:
0 bbl (1 January 2006 est.)

Natural gas - production:
146 million cu m (2006 est.)

Natural gas - consumption:
146 million cu m (2006 est.)

Natural gas - exports:
0 cu m (2007 est.)

Natural gas - imports:
0 cu m (2007 est.)

Natural gas - proved reserves:
6.513 billion cu m (1 January 2008 est.)

Current account balance:
-$2.275 billion (2008 est.)

Exports:
$2.49 billion f.o.b. (2008 est.)

Exports - commodities:
gold, coffee, cashew nuts, manufactures, cotton

Exports - partners:
China 10.3%, India 9.7%, Netherlands 6.5%, Germany 6.3%, UAE 4.9% (2007)

Imports:
$5.901 billion f.o.b. (2008 est.)

Imports - commodities:
consumer goods, machinery and transportation equipment, industrial raw materials, crude oil

Imports - partners:
China 12%, Kenya 8%, South Africa 7.7%, India 6.9%, UAE 5.9% (2007)

Reserves of foreign exchange and gold:
$2.624 billion (31 December 2008 est.)

Debt - external:
$5.311 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$NA

Stock of direct foreign investment - abroad:
$NA

Exchange rates:
Tanzanian shillings (TZS) per US dollar - 1,178.1 (2008 est.), 1,255 (2007), 1,251.9 (2006), 1,128.93 (2005), 1,089.33 (2004)


NOTE: The information regarding Tanzania on this page is re-published from the 2009 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tanzania Economy 2009 information contained here. All suggestions for corrections of any errors about Tanzania Economy 2009 should be addressed to the CIA.



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