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Tanzania Economy 2013

SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES











Tanzania Economy 2013
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 11, 2013

Economy - overview:
Tanzania is one of the world's poorest economies in terms of per capita income, however, it has achieved high growth based on gold production and tourism. The economy depends 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 2009-12 was a respectable 6% per year due to high gold prices and increased production.

GDP (purchasing power parity):
$73.5 billion (2012 est.)
country comparison to the world: 85

$69.01 billion (2011 est.)
$64.83 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$27.98 billion (2012 est.)

GDP - real growth rate:
6.5% (2012 est.)
country comparison to the world: 33

6.4% (2011 est.)
7% (2010 est.)

GDP - per capita (PPP):
$1,700 (2012 est.)
country comparison to the world: 201

$1,600 (2011 est.)
$1,600 (2010 est.)
note: data are in 2012 US dollars

GDP - composition by sector:
agriculture: 27.1%
industry: 24.1%
services: 48.7% (2012 est.)

Labor force:
24.77 million (2012 est.)
country comparison to the world: 27

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

Unemployment rate:
NA%

Population below poverty line:
36% (2002 est.)

Household income or consumption by percentage share:
lowest 10%: 2.8%
highest 10%: 29.6% (2007)

Distribution of family income - Gini index:
37.6 (2007)
country comparison to the world: 75

34.6 (2000)

Investment (gross fixed):
26.5% of GDP (2012 est.)
country comparison to the world: 38

Budget:
revenues: $6.075 billion
expenditures: $7.67 billion (2012 est.)

Taxes and other revenues:
21.7% of GDP (2012 est.)
country comparison to the world: 147

Budget surplus (+) or deficit (-):
-5.7% of GDP (2012 est.)
country comparison to the world: 167

Public debt:
34.4% of GDP (2012 est.)
country comparison to the world: 104

37.6% of GDP (2011 est.)

Inflation rate (consumer prices):
15.3% (2012 est.)
country comparison to the world: 213

12.7% (2011 est.)

Central bank discount rate:
8.25% (31 December 2010 est.)
country comparison to the world: 95

3.7% (31 December 2009 est.)

Commercial bank prime lending rate:
21.3% (31 December 2012 est.)
country comparison to the world: 49

14.96% (31 December 2011 est.)

Stock of narrow money:
$4.964 billion (31 December 2011 est.)
country comparison to the world: 101

$4.327 billion (31 December 2010 est.)

Stock of broad money:
$8.285 billion (31 December 2011 est.)
country comparison to the world: 114

$7.568 billion (31 December 2010 est.)

Stock of domestic credit:
$6.803 billion (31 December 2012 est.)
country comparison to the world: 110

$5.665 billion (31 December 2011 est.)

Market value of publicly traded shares:
$1.539 billion (31 December 2011)
country comparison to the world: 104

$1.264 billion (31 December 2010)
$1.293 billion (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); mining (diamonds, gold, and iron), salt, soda ash; cement, oil refining, shoes, apparel, wood products, fertilizer

Industrial production growth rate:
7% (2010 est.)
country comparison to the world: 42

Current account balance:
-$3.946 billion (2012 est.)
country comparison to the world: 156

-$3.872 billion (2011 est.)

Exports:
$5.031 billion (2012 est.)
country comparison to the world: 113

$4.843 billion (2011 est.)

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

Exports - partners:
China 14.3%, Japan 7.8%, India 7.8%, Germany 6.7%, UAE 4.5% (2011)

Imports:
$9.724 billion (2012 est.)
country comparison to the world: 98

$9.635 billion (2011 est.)

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

Imports - partners:
India 18.8%, China 17.4%, South Africa 6%, Kenya 5.9%, UAE 4.7% (2011)

Reserves of foreign exchange and gold:
$3.787 billion (31 December 2012 est.)
country comparison to the world: 101

$3.726 billion (31 December 2011 est.)
note: excludes gold

Debt - external:
$11.18 billion (31 December 2012 est.)
country comparison to the world: 91

$10.33 billion (31 December 2011 est.)

Stock of direct foreign investment - at home:
$NA

Stock of direct foreign investment - abroad:
$NA

Exchange rates:
Tanzanian shillings (TZS) per US dollar -

1,586.9 (2012 est.)
1,572.1 (2011 est.)
1,409.3 (2010 est.)
1,320.3 (2009)
1,178.1 (2008)

Fiscal year:
1 July - 30 June


NOTE: 1) The information regarding Tanzania on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tanzania Economy 2013 information contained here. All suggestions for corrections of any errors about Tanzania Economy 2013 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 11-Mar-13
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