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Tanzania:
Economy

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Tanzania Page


Economy - overview
Definition
Tanzania is one of the poorest countries in the world. 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 The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty.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 nearly 7% in 2007.
GDP (purchasing power parity)
Definition - World rank and map
$48.94 billion (2007 est.)
GDP (official exchange rate)
Definition
$16.18 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
7.3% (2007 est.)
GDP - per capita
Definition - World rank and map
$1,300 (2007 est.)
GDP - composition by sector
Definition
agriculture: 42.8%
industry: 18.4%
services: 38.7% (2007 est.)
Labor force
Definition
20.04 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 80%
industry and services: 20% (2002 est.)
Unemployment rate
Definition - World rank and map
NA%
Population below poverty line
Definition
36% (2002 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 2.9%
highest 10%: 26.9% (2000)
Distribution of family income - Gini index
Definition - World rank and map
34.6 (2000)
Inflation rate (consumer prices)
Definition - World rank and map
7% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
21.3% of GDP (2007 est.)
Budget
Definition
revenues: $3.148 billion
expenditures: $3.577 billion (2007 est.)
Public debt
Definition - World rank and map
19.7% of GDP (2007 est.)
Agriculture - products
Definition
coffee, sisal, tea, cotton, pyrethrum (insecticide made from chrysanthemums), cashew nuts, tobacco, cloves, corn, wheat, cassava (tapioca), bananas, fruits, vegetables; cattle, sheep, goats
Industries
Definition
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
Definition - World rank and map
8.2% (2007 est.)
Electricity - production
Definition - World rank and map
1.88 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
1.199 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
29.9 kWh (2005)
Electricity - exports
Definition
0 kWh (2005 est.)
Electricity - imports
Definition
136 million kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
25,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
0.6 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
24,800 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
21.73 billion cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$1.495 billion (2007 est.)
Exports
Definition - World rank and map
$2.134 billion f.o.b. (2007 est.)
Exports - commodities
Definition
gold, coffee, cashew nuts, manufactures, cotton
Exports - partners
Definition
China 9.6%, India 9.2%, Netherlands 6.1%, Germany 6%, UAE 4.6% (2006)
Imports
Definition - World rank and map
$4.835 billion f.o.b. (2007 est.)
Imports - commodities
Definition
consumer goods, machinery and transportation equipment, industrial raw materials, crude oil
Imports - partners
Definition
China 10.8%, South Africa 9.4%, Kenya 7.5%, India 6.5%, UAE 5.5%, Zambia 5.5% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$2.908 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$4.379 billion (31 December 2007 est.)
Stock of direct foreign investment - at home
Definition
$NA
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$587.9 million (2005)
Economic aid - recipient
Definition
$1.505 billion (2005)
Currency (code)
Definition
Tanzanian shilling (TZS)
Exchange rates
Definition
Tanzanian shillings per US dollar - 1,255 (2007), 1,251.9 (2006), 1,128.93 (2005), 1,089.33 (2004), 1,038.42 (2003)
Fiscal year
Definition
1 July - 30 June


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