| Economy | Tanzania |
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Economy - overview:
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Tanzania is one of the world's poorest economies in terms of per capita income, however, Tanzania average 7% GDP growth per year between 2000 and 2008 on strong gold production and tourism. The economy depends heavily 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 2009-11 was a respectable 6% per year due to high gold prices and increased production. |
GDP (purchasing power parity):
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$63.44 billion (2011 est.)
$59.77 billion (2010 est.)
$56.1 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$1,500 (2011 est.)
$1,400 (2010 est.)
$1,400 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$23.2 billion (2011 est.) |
GDP - real growth rate:
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6.1% (2011 est.)
6.4% (2010 est.)
6.7% (2009 est.) |
GDP - composition by sector:
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agriculture: 27.8%
industry: 24.2%
services: 48% (2011 est.) |
Investment (gross fixed):
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26.1% of GDP (2011 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%: 2.8%
highest 10%: 29.6% (2007) |
Distribution of family income - Gini index:
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37.6 (2007)
34.6 (2000) |
Inflation rate (consumer prices):
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11.1% (2011 est.)
7.2% (2010 est.) |
Central bank discount rate:
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8.25% (31 December 2010 est.)
3.7% (31 December 2009 est.) |
Commercial bank prime lending rate:
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18.1% (31 December 2011 est.)
14.55% (31 December 2010 est.) |
Stock of money:
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$2.464 billion (31 December 2008)
$2.285 billion (31 December 2007) |
Stock of money - per capita:
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58 USD per capita |
Stock of quasi money:
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$3.362 billion (31 December 2008)
$3.212 billion (31 December 2007) |
Stock of quasi money - per capita:
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79 USD per capita |
Stock of domestic credit:
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$5.077 billion (31 December 2011 est.)
$4.647 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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119 USD per capita |
Stock of narrow money:
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$3.325 billion (31 December 2011 est.)
$3.223 billion (31 December 2010 est.) |
Stock of broad money:
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$7.562 billion (31 December 2011 est.)
$7.528 billion (31 December 2010 est.) |
Labor force:
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24.06 million (2011 est.) |
Labor force participation rate:
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56.29 % 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% |
Unemployment, youth ages 15-24:
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total: 8.8%
male: 7.4%
female: 10.1% (2005) |
Budget:
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revenues: $4.949 billion
expenditures: $6.393 billion (2011 est.) |
Budget revenues per capita:
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116 USD per capita |
Taxes and other revenues:
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21.3% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-6.2% of GDP (2011 est.) |
Public debt:
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36.9% of GDP (2011 est.)
34.4% of GDP (2010 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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7% (2010 est.) |
Electricity - production:
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4.281 billion kWh (2008 est.) |
Electricity - production per capita:
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101 kWh per capita |
Electricity - consumption:
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3.431 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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81 kWh per capita |
Electricity - exports:
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0 kWh (2009 est.) |
Electricity - imports:
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0 kWh (2008 est.) |
Oil - production:
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0 bbl/day (2010 est.) |
Oil - production per capita:
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void |
Oil - consumption:
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38,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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0.32 bbl/year per capita |
Oil - exports:
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0 bbl/day (2009 est.) |
Oil - imports:
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30,040 bbl/day (2009 est.) |
Oil - proved reserves:
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0 bbl (1 January 2011 est.) |
Natural gas - production:
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658 million cu m (2009 est.) |
Natural gas - production per capita:
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16 cu m per capita |
Natural gas - consumption:
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658 million cu m (2009 est.) |
Natural gas - consumption - per capita:
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16 cu m per capita |
Natural gas - exports:
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0 cu m (2009 est.) |
Natural gas - imports:
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0 cu m (2009 est.) |
Natural gas - proved reserves:
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6.513 billion cu m (1 January 2011 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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-$2.071 billion (2011 est.)
-$1.978 billion (2010 est.) |
Current account balance - per capita:
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-48 USD per capita |
Exports:
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$5.659 billion (2011 est.)
$4.297 billion (2010 est.) |
Exports per capita:
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133 USD per capita |
Exports - commodities:
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gold, coffee, cashew nuts, manufactures, cotton |
Exports - partners:
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China 15.6%, India 11%, Japan 6.1%, UAE 5%, Germany 4% (2010) |
Imports:
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$8.65 billion (2011 est.)
$7.125 billion (2010 est.) |
Imports per capita:
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203 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 17.3%, India 15.4%, South Africa 7.9%, Kenya 7%, UAE 4.8%, Japan 4.2% (2010) |
Reserves of foreign exchange and gold:
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$3.573 billion (31 December 2011 est.)
$3.645 billion (31 December 2010 est.)
note: excludes gold |
Reserves of foreign exchange and gold - per capita:
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84 USD per capita |
Debt - external:
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$9.114 billion (31 December 2011 est.)
$8.259 billion (31 December 2010 est.) |
Debt - external - per capita:
|
214 USD per capita |
Stock of direct foreign investment - at home:
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$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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$1.264 billion (31 December 2010)
$1.293 billion (31 December 2008)
$541.1 million (31 December 2006) |
Market value of publicly traded shares - per capita:
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30 USD per capita |
Currency (code):
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Tanzanian shilling (TZS) |
Exchange rates:
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Tanzanian shillings (TZS) per US dollar -
1,571.1 (2011 est.)
1,409.3 (2010 est.)
1,320.3 (2009)
1,178.1 (2008)
1,255 (2007) |
Fiscal year:
|
1 July - 30 June |
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