Tanzania Economy 1997

Economy - overview Tanzania is one of the poorest countries in the world. The economy isheavily dependent on agriculture, which accounts for 57% of GDP, provides85% of exports, and employs 90% of the work force. Topography and climatic conditions, however, limit cultivated crops to only 4% of the land area.Industry accounts for 17% of GDP and is mainly limited to processing agriculturalproducts and light consumer goods. The economic recovery program announcedin mid-1986 has generated notable increases in agricultural production andfinancial support for the program by bilateral donors. The World Bank, theInternational Monetary Fund, and bilateral donors have provided funds to rehabilitateTanzania's deteriorated economic infrastructure. Growth in 1991-96 has featureda pickup in industrial production and a substantial increase in output ofminerals, led by gold. Recent banking reforms have helped increase privatesector growth and investment.

GDP purchasing power parity - $18.9 billion (1995 est.)

GDP - real growth rate 3.5% (1995 est.)

GDP - per capita purchasing power parity - $650 (1995 est.)

GDP - composition by sector
agriculture: 57%
industry: 17%
services: 26% (1994 est.)

Inflation rate - consumer price index 30% (1995 est.)

Labor force
total: 13.495 million
by occupation: agriculture 90%, industry and commerce 10% (1995 est.)

Unemployment rate NA%

Budget
revenues : $495 million
expenditures: $631 million, including capital expenditures of $118 million (1990 est.)

Industries primarily agricultural processing (sugar, beer, cigarettes, sisal twine),diamond and gold mining, oil refining, shoes, cement, textiles, wood products,fertilizer

Industrial production growth rate 7.7% (1994)

Electricity - capacity 440,000 kW (1994)

Electricity - production 1.91 billion kWh (1994)

Electricity - consumption per capita 60 kWh (1994 est.)

Agriculture - products coffee, sisal, tea, cotton, pyrethrum (insecticide made from chrysanthemums),cashews, tobacco, cloves (Zanzibar), corn, wheat, cassava (tapioca), bananas,fruits, vegetables; cattle, sheep, goats

Exports
total value: $679 million (f.o.b., 1995)
commodities: coffee, cotton, cashew nuts, cloves, tobacco, sisal
partners: India, Germany, Belgium, UK, Japan, Netherlands, Kenya, Hong Kong, US

Imports
total value: $1.69 billion (c.i.f., 1995)
commodities: manufactured goods, machinery and transportation equipment, cotton piecegoods, crude oil, foodstuffs
partners : UK, Germany, Italy, Japan, US, Kenya, China

Debt - external $7.4 billion (1994 est.)

Economic aid
recipient: ODA, $NA

Currency 1 Tanzanian shilling (TSh) = 100 cents

Exchange rates Tanzanian shillings (TSh) per US$1 - 597.27 (January 1997), 579.98 (1996),574.76 (1995), 509.63 (1994), 405.27 (1993), 297.71 (1992)

Fiscal year 1 July - 30 June

NOTE: The information regarding Tanzania on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tanzania Economy 1997 information contained here. All suggestions for corrections of any errors about Tanzania Economy 1997 should be addressed to the CIA.