Economy of Tanzania
Population: 56.32 M (2018)
GDP per Capita: 1,051 USD (2018)
58,000 M.

GDP USD

(2018)

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8,070 M.

EXPORTS USD

(2017)

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9,120 M.

IMPORTS USD

(2017)

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37.29 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 5.44 % (2018)
GDP of 2010 USD USD 52.40 B. (2018)
GDP Current USD USD 58.00 B. (2018)
GDP per Capita Current USD USD 1,051 (2018)
GDP per capita, PPP USD 2,809 (2017)
GDP per Capita, 2010 USD USD 957 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 8.50 % (2017)
Government Spending USD 4.53 B. (2017)
Government Debt % GDP 37.29 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 155.38 (2018)
Trade Openness 32.24 % (2017)
Exports of Goods and Services % GDP 15.14 % (2017)
Exports Goods & Services USD 8.07 B. (2017)
Exports Annual Growth 1.35 % (2015)
Imports as % GDP 17.10 % (2017)
Total Imports USD 9.12 B. (2017)
Foreign Direct Investment % GDP 1.82 % (2018)
Foreign Direct Investment USD 1.10 B. (2018)
Current Account Balance % GDP USD -3.26 % (2018)
Current Account Balance USD -1.89 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD -1.49 B. (2018)
Foreign Exchange Reserves incl Gold USD 5.05 B. (2018)
Remittances % GDP 0.74 % (2018)
Remittances USD 365 M. (2018)
Balance of Payments USD 952 M. (2017)

Labor Market

Indicator Value
Labor Force 27.06 M. (2019)
Unemployment Rate 1.91 % (2019)
Unemployment Rate Females 2.46 % (2019)
Unemployment Rate Males 1.53 % (2019)
Youth Unemployment (ages 15-24) 3.43 % (2019)
Labor Force Participation Rate 83.06 % (2019)
Labor Force (Percent Female) 48.18 % (2019)
Female Labor Force Participation Rate 79.20 % (2019)
Male Labor Force Participation Rate 87.12 % (2019)
Dependent People 87.62 % (2018)

Agriculture Sector

Indicator Value
Forest Area 51.60 % (2016)
Forest Area km² 456,880 km² (2016)
Agricultural Land 44.76 % (2016)
Agricultural Land km² 396,500 km² (2016)
Employment 65.74 % (2019)
Value added % GDP 28.74 % (2017)
Agriculture Value added USD 15.33 B. (2017)
Crop Production Index 174.80 (2016)
Precipitation 1,071 mm (2014)
Arable Land 15 % (2016)
Cereal Yield 1,544 kg/hectare (2017)
Food production index 169 (2016)
Rural Population 66 % (2018)
Fertilizer use of Arable Land 13 kg/hectare (2016)
Livestock Production Index 133 (2016)
Economy of Tanzania

According to the World Bank and its latest published data, the economy of the Tanzania presents a growth rate of 5.44 % (2018) to the previous year.

With a population that reaches 56.32 M (2018) and a gross domestic product of USD 58.00 B. (2018), it translates a Gross Domestic Product per Capita of USD 1,051 placing its inhabitants on the threshold of an Lower middle income country (according to the World Bank's updated classification).

Tanzania also has a workforce of 27.06 M. (2019) with an unemployment rate of 1.91 % (2019), where women represent 2.46 % (2019) and men 1.53 % (2019), the unemployment rate for young people between 15-24 years old stood at 3.43 % (2019). The total number of dependent people stands at 87.62 % (2018).

The central government spent 8.50 % (2017) of its gross domestic product that year, which in absolute terms is USD 4.53 B. (2017). Its consolidated public debt reached 37.29 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Tanzania exported USD 8.07 B. (2017), which represents 15.14 % (2017) of its gross domestic product, in that same sense its imports reached USD 9.12 B. (2017) with a direct foreign investment of USD 1.10 B. (2018).

Tanzania has a forest area of 456,880 km² (2016), which represents 51.60 % (2016) of its total area, an average rainfall of 1,071 mm (2014) per year and a population of 66 % (2018) living in rural areas. With a total area of 396,500 km² (2016) available for agriculture and 65.74 % (2019) of its employments, the agricultural sector contributes to the economy of the Tanzania about USD 15.33 B. (2017) (28.74 % (2017) of its GDP).