Tanzania Economy 2001

Economy - overview: Tanzania is one of the poorest countries in the world. The economy is heavily dependent on agriculture, which accounts for half 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 is mainly limited to processing agricultural products and light consumer goods. The World Bank, the International Monetary Fund, and bilateral donors have provided funds to rehabilitate Tanzania's deteriorated economic infrastructure. Growth in 1991-2000 featured a pick up in industrial production and a substantial increase in output of minerals, led by gold. Natural gas exploration in the Rufiji Delta looks promising and production could start by 2002. Recent banking reforms have helped increase private sector growth and investment. Continued donor support and solid macroeconomic policies should allow Tanzania to achieve real GDP growth of 6% in 2001 and in 2002.

GDP: purchasing power parity - $25.1 billion (2000 est.)

GDP - real growth rate: 5.2% (2000 est.)

GDP - per capita: purchasing power parity - $710 (2000 est.)

GDP - composition by sector:
agriculture: 49%
industry: 17%
services: 34% (1998 est.)

Population below poverty line: 51.1% (1991 est.)

Household income or consumption by percentage share:
lowest 10%: 2.9%
highest 10%: 30.2% (1993)

Inflation rate (consumer prices): 6% (2000 est.)

Labor force: 13.495 million

Labor force - by occupation: agriculture 80%, industry and commerce 20% (2000 est.)

Unemployment rate: NA%

Budget:
revenues: $1.21 billion
expenditures: $1.36 billion, including capital expenditures of $NA (1999 est.)

Industries: primarily agricultural processing (sugar, beer, cigarettes, sisal twine), diamond and gold mining, oil refining, shoes, cement, textiles, wood products, fertilizer, salt

Industrial production growth rate: 8.4% (1999 est.)

Electricity - production: 2.248 billion kWh (1999)

Electricity - production by source:
fossil fuel: 22.24%
hydro: 77.76%
nuclear: 0%
other: 0% (1999)

Electricity - consumption: 2.134 billion kWh (1999)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 43 million kWh (1999)

Agriculture - products: coffee, sisal, tea, cotton, pyrethrum (insecticide made from chrysanthemums), cashew nuts, tobacco, cloves (Zanzibar), corn, wheat, cassava (tapioca), bananas, fruits, vegetables; cattle, sheep, goats

Exports: $937 million (f.o.b., 2000 est.)

Exports - commodities: coffee, manufactured goods, cotton, cashew nuts, minerals, tobacco, sisal (1996)

Exports - partners: India 20%, UK 10%, Germany 8%, Japan 8%, Netherlands 8%, Belgium 4% (1998)

Imports: $1.57 billion (f.o.b., 2000 est.)

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

Imports - partners: South Africa 8%, Japan 8%, UK 8%, Kenya 7%, India 6%, US 5% (1998)

Debt - external: $6.8 billion (2000 est.)

Economic aid - recipient: $963 million (1997)

Currency: Tanzanian shilling (TZS)

Currency code: TZS

Exchange rates: Tanzanian shillings per US dollar - 803.34 (December 2000), 800.41 (2000), 744.76 (1999), 664.67 (1998), 612.12 (1997), 579.98 (1996)

Fiscal year: 1 July - 30 June

NOTE: The information regarding Tanzania on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tanzania Economy 2001 information contained here. All suggestions for corrections of any errors about Tanzania Economy 2001 should be addressed to the CIA.