| Economy | Tanzania |
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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 The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty.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 - per capita (PPP):
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$1,300 (2008 est.)
$1,300 (2007 est.)
$1,200 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
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$20.63 billion (2008 est.) |
GDP - real growth rate:
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7.1% (2008 est.)
7.1% (2007 est.)
6.7% (2006 est.) |
GDP - composition by sector:
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agriculture: 27%
industry: 22.7%
services: 50.3% (2008 est.) |
Investment (gross fixed):
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24.2% of GDP (2008 est.) |
Population below poverty line:
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36% (2002 est.) |
Household income or consumption by percentage share:
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lowest 10%: 2.9%
highest 10%: 26.9% (2000) |
Distribution of family income - Gini index:
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34.6 (2000) |
Inflation rate (consumer prices):
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9.3% (2008 est.) |
Central bank discount rate:
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16.4% (31 December 2007) |
Commercial bank prime lending rate:
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16.03% (31 December 2007) |
Stock of money:
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$2.263 billion (31 December 2007) |
Stock of money - per capita:
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56 USD per capita |
Stock of quasi money:
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$2.885 billion (31 December 2007) |
Stock of quasi money - per capita:
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71 USD per capita |
Stock of domestic credit:
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$2.25 billion (31 December 2007) |
Stock of domestic credit - per capita:
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55 USD per capita |
Labor force:
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20.38 million (2008 est.) |
Labor force participation rate:
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49.65 % of population |
Labor force - by occupation:
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agriculture: 80%
industry and services: 20% (2002 est.) |
Unemployment rate:
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NA% |
Budget:
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revenues: $4.216 billion
expenditures: $4.658 billion (2008 est.) |
Budget revenues per capita:
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103 USD per capita |
Public debt:
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22% of GDP (2008 est.) |
Industries:
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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:
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10% (2008 est.) |
Electricity - production:
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2.682 billion kWh (2006 est.) |
Electricity - production per capita:
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66 kWh per capita |
Electricity - consumption:
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2.225 billion kWh (2006 est.) |
Electricity - consumption - per capita:
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55 kWh per capita |
Electricity - exports:
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0 kWh (2007 est.) |
Electricity - imports:
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123 million kWh (2006 est.) |
Oil - production:
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0 bbl/day (2007 est.) |
Oil - production per capita:
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void |
Oil - consumption:
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27,270 bbl/day (2006 est.) |
Oil - consumption - per capita:
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0.24 bbl/year per capita |
Oil - exports:
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0 bbl/day (2005) |
Oil - imports:
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26,760 bbl/day (2005) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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146 million cu m (2006 est.) |
Natural gas - production per capita:
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4 cu m per capita |
Natural gas - consumption:
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146 million cu m (2006 est.) |
Natural gas - consumption - per capita:
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4 cu m per capita |
Natural gas - exports:
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0 cu m (2007 est.) |
Natural gas - imports:
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0 cu m (2007 est.) |
Natural gas - proved reserves:
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6.513 billion cu m (1 January 2008 est.) |
Agriculture - products:
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coffee, sisal, tea, cotton, pyrethrum (insecticide made from chrysanthemums), cashew nuts, tobacco, cloves, corn, wheat, cassava (tapioca), bananas, fruits, vegetables; cattle, sheep, goats |
Current account balance:
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-$2.275 billion (2008 est.) |
Current account balance - per capita:
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-55 USD per capita |
Exports:
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$2.49 billion f.o.b. (2008 est.) |
Exports per capita:
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61 USD per capita |
Exports - commodities:
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gold, coffee, cashew nuts, manufactures, cotton |
Exports - partners:
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China 10.3%, India 9.7%, Netherlands 6.5%, Germany 6.3%, UAE 4.9% (2007) |
Imports:
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$5.901 billion f.o.b. (2008 est.) |
Imports per capita:
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144 USD per capita |
Imports - commodities:
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consumer goods, machinery and transportation equipment, industrial raw materials, crude oil |
Imports - partners:
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China 12%, Kenya 8%, South Africa 7.7%, India 6.9%, UAE 5.9% (2007) |
Reserves of foreign exchange and gold:
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$2.624 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
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64 USD per capita |
Debt - external:
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$5.311 billion (31 December 2008 est.) |
Debt - external - per capita:
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130 USD per capita |
Stock of direct foreign investment - at home:
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$NA |
Stock of direct foreign investment - at home - per capita:
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void |
Stock of direct foreign investment - abroad:
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$NA |
Stock of direct foreign investment - abroad - per capita:
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void |
Market value of publicly traded shares:
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$587.9 million (2005) |
Market value of publicly traded shares - per capita:
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15 USD per capita |
Economic aid - donor:
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void |
Economic aid - recipient:
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$1.505 billion (2005) |
Economic aid - recipient per capita:
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37 USD per capita |
Currency (code):
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Tanzanian shilling (TZS) |
Exchange rates:
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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) |
Fiscal year:
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1 July - 30 June |
|
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