Tanzania:
Economy

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Other pages in this profile of Tanzania:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


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 The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty.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

Tanzania: Economy

Tanzania:
Economy