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World > Africa > Tanzania > Economy (Facts)

Tanzania - Economy (Facts)
Economy - overview: Tanzania is one of the poorest countries in the world. The economy depends heavily on agriculture, which accounts for almost half 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 The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty.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 6% in 2006.
GDP - real growth rate: 5.8% (2006 est.)
GDP (purchasing power parity): $29.62 billion (2006 est.)
GDP (official exchange rate): $13.13 billion (2006 est.)
GDP - per capita (PPP): $800 (2006 est.)
GDP - composition by sector: agriculture: 43.3%
industry: 17.7%
services: 39% (2006 est.)
Population below poverty line: 36% (2002 est.)
Household income or consumption by percentage share: lowest 10%: 2.8%
highest 10%: 30.1% (1993)
Inflation rate (consumer prices): 5.9% (2006 est.)
Labor force: 19.35 million (2006 est.)
Labor force - by occupation: agriculture: 80%
industry and services: 20% (2002 est.)
Unemployment rate: NA
Budget: revenues: $2.431 billion
expenditures: $3.001 billion; including capital expenditures of NA (2006 est.)
Industries: 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: 8.4% (1999 est.)
Electricity - production: 2.562 billion kWh (2004)
Electricity - consumption: 2.383 billion kWh (2004)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 0 kWh (2004)
Oil - production: 0 bbl/day (2004 est.)
Oil - consumption: 23,000 bbl/day (2004 est.)
Oil - exports: NA bbl/day
Oil - imports: NA bbl/day
Oil - proved reserves: 0 bbl (1 January 2005)
Natural gas - production: 0 cu m (2004 est.)
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
Exports: $1.831 billion f.o.b. (2006 est.)
Exports - commodities: gold, coffee, cashew nuts, manufactures, cotton
Exports - partners: China 8.9%, India 8.8%, Netherlands 6.2%, Japan 5.4%, Zambia 4.7%, UAE 4.3%, Germany 4.2% (2006)
Imports: $3.18 billion f.o.b. (2006 est.)
Imports - commodities: consumer goods, machinery and transportation equipment, industrial raw materials, crude oil
Imports - partners: South Africa 10%, China 9.6%, Kenya 8%, India 6.9%, UAE 6.1%, US 4% (2006)
Debt - external: $4.61 billion (2006 est.)
Economic aid - recipient: $1.2 billion (2001)
Currency: Tanzanian Schilling (TZS)
Currency code: TZS
Exchange rates: Tanzanian shillings per US dollar - 1,251.9 (2006), 1,128.93 (2005), 1,089.33 (2004), 1,038.42 (2003), 966.58 (2002)
Fiscal year: 1 July - 30 June


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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