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Tanzania Economy

    Economy—overview: Tanzania is one of the poorest countries in the world. The economy is heavily dependent on agriculture, which accounts for 56% of GDP, provides 85% 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 15% of GDP and is mainly limited to processing agricultural products and light consumer goods. The economic recovery program announced in mid-1986 has generated notable increases in agricultural production and financial support for the program by bilateral donors. The World Bank, the International Monetary Fund, and bilateral donors have provided funds to rehabilitate Tanzania's deteriorated economic infrastructure. Growth in 1991-98 has featured a pickup in industrial production and a substantial increase in output of minerals, led by gold. Natural gas exploration in the Rufiji Delta looks promising and production could start by 2002. Recent banking reforms have helped increase private sector growth and investment. Short-term economic progress also depends on curbing corruption.

    GDP: purchasing power parity—$22.1 billion (1998 est.)

    GDP—real growth rate: 3.8% (1998 est.)

    GDP—per capita: purchasing power parity—$730 (1998 est.)

    GDP—composition by sector:
    agriculture: 56%
    industry: 15%
    services: 29% (1996 est.)

    Population below poverty line: 51.1% (1991 est.)

    Household income or consumption by percentage share:
    lowest 10%: 2.9%
    highest 10%: 30.2% (1993)

    Inflation rate (consumer prices): 13.5% (1998)

    Labor force: 13.495 million

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

    Unemployment rate: NA%

    Budget:
    revenues: $700 million
    expenditures: $1 billion, including capital expenditures of $NA (FY98/99 est.)

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

    Industrial production growth rate: 0.4% (1995 est.)

    Electricity—production: 1.82 billion kWh (1996)

    Electricity—production by source:
    fossil fuel: 12.09%
    hydro: 87.91%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 1.82 billion kWh (1996)

    Electricity—exports: 0 kWh (1996)

    Electricity—imports: 0 kWh (1996)

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

    Exports: $952 million (f.o.b., 1998 est.)

    Exports—commodities: coffee, manufactured goods, cotton, cashew nuts, minerals, tobacco, sisal (1996)

    Exports—partners: India 9.8%, Germany 8.9%, Japan 7.8%, Malaysia 6.5%, Rwanda 5.2%, Netherlands 4.7% (1997)

    Imports: $1.46 billion (f.o.b., 1998 est.)

    Imports—commodities: consumer goods, machinery and transportation equipment, industrial raw materials, crude oil

    Imports—partners: South Africa 12.9%, Kenya 9.6%, UK 8.7%, Saudi Arabia 6.6%, Japan 4.9%, China 4.6% (1997)

    Debt—external: $8.3 billion (1998 est.)

    Economic aid—recipient: $860.9 million (1995)

    Currency: 1 Tanzanian shilling (TSh) = 100 cents

    Exchange rates: Tanzanian shillings (TSh) per US$1—668.3 (February 1999), 664.67 (1998), 612.12 (1997), 579.98 (1996), 574.76 (1995), 509.63 (1994)

    Fiscal year: 1 July—30 June

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