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 The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty.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 a positive growth rate, despite the world recession.
GDP (purchasing power parity):
$57.5 billion (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$22.16 billion (2009 est.)
GDP - real growth rate:
4.5% (2009 est.)
GDP - per capita (PPP):
$1,400 (2009 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 26.6%
industry:
22.6%
services:
50.8% (2009 est.)
Labor force:
21.23 million (2009 est.)
Labor force - by occupation:
agriculture: 80%
industry and services:
20% (2002 est.)
Unemployment rate:
NA% est.)
Population below poverty line:
36% (2002 est.)
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):
18.1% of GDP (2009 est.)
Budget:
revenues: $3.78 billion
expenditures:
$4.693 billion (2009 est.)
Public debt:
24.8% of GDP (2009 est.)
Inflation rate (consumer prices):
11.6% (2009 est.)
Central bank discount rate:
15.99% (31 December 2008)
Commercial bank prime lending rate:
14.98% (31 December 2008)
Stock of money:
$2.464 billion (31 December 2008)
Stock of quasi money:
$3.362 billion (31 December 2008)
Stock of domestic credit:
$3.297 billion (31 December 2008)
Market value of publicly traded shares:
$NA (31 December 2008)
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:
5.8% (2009 est.)
Electricity - production:
3.786 billion kWh (2007 est.)
Electricity - consumption:
3.182 billion kWh (2007 est.)
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
200 million kWh (2007 est.)
Oil - production:
0 bbl/day (2008 est.)
Oil - consumption:
32,000 bbl/day (2008 est.)
Oil - exports:
0 bbl/day (2007 est.)
Oil - imports:
28,070 bbl/day (2007 est.)
Oil - proved reserves:
0 bbl (1 January 2009 est.)
Natural gas - production:
560.7 million cu m (2008 est.)
Natural gas - consumption:
560.7 million cu m (2008 est.)
Natural gas - exports:
0 cu m (2008 est.)
Natural gas - imports:
0 cu m (2008 est.)
Natural gas - proved reserves:
6.513 billion cu m (1 January 2009 est.)
Current account balance:
$-1.995 billion (2009 est.)
Exports:
$2.744 billion (2009 est.)
Exports - commodities:
gold, coffee, cashew nuts, manufactures, cotton
Exports - partners:
India 8.1%, Japan 6.5%, China 6.3%, UAE 5.7%, Netherlands 5.6%, Germany 5.1% (2008)
Imports:
$5.545 billion (2009 est.)
Imports - commodities:
consumer goods, machinery and transportation equipment, industrial raw materials, crude oil
Imports - partners:
China 14.4%, India 9%, South Africa 7.7%, Kenya 6.9%, UAE 5.9% (2008)
Reserves of foreign exchange and gold:
$2.897 billion (31 December 2009 est.)
Debt - external:
$7.07 billion (31 December 2009 est.)
Stock of direct foreign investment - at home:
$NA
Stock of direct foreign investment - abroad:
$NA
Exchange rates:
Tanzanian shillings (TZS) per US dollar - 1,317.5 (2009), 1,178.1 (2008), 1,255 (2007), 1,251.9 (2006), 1,128.93 (2005)
NOTE: The information regarding Tanzania on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tanzania Economy 2010 information contained here. All suggestions for corrections of any errors about Tanzania Economy 2010 should be addressed to the CIA.
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This page was last modified 09-Feb-10