Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Tanzania economic outlook, debt to GDP ratio, international trade performance and population trends.
Basic Information
Government Type: Presidential republic
Capital City: Dar es Salaam (administrative capital), Dodoma (legislative capital)
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Bank of Tanzania |
---|---|
Currency |
Tanzanian shillings (TZS) |
International Reserves |
USD 5 billion (2018) |
Gross Domestic Product – GDP |
USD 57.9 billion (2018, estimate) |
GDP (Purchasing Power Parity) |
Intl$ 175.8 billion (2018, estimate) |
GDP Data
Real GDP growth |
2014 6.7% 2015 6.2% 2016 6.9% 2017* 6.8% 2018* 6.6% *Estimate |
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GDP per capita – current prices |
USD 1,133.5 (2018, estimate) |
GDP per capita – PPP |
Intl$ 3,443.7 (2018, estimate) |
GDP (PPP) – share of world total |
0.13% (2019, estimate) |
GDP – composition by sector |
agriculture: 28.7% industry: 25.1% services: 37.9% (2017 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2014 5.6% 2015 5.2% 2016 5.3% 2017* 3.5% 2018* 3.6% *Estimate |
Tanzania
Inflation & Debt
Inflation |
2014 5.6% 2015 5.2% 2016 5.3% 2017* 3.5% 2018* 3.6% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: N/A Moody’s: B1 Standard & Poor’s / Moody’s (Updated 2019) |
Unemployment rate | N/A |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) |
2014 35.9% 2015 36.4% 2016 36.6% 2017* 37.3% 2018* 37.7% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2014 -3.2% 2015 -2.1% 2016 -1.2% 2017* -1.9% 2018* -2.9% *Estimate |
Market value of publicly traded shares | N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
15.1% (2017) |
---|---|
Shares in world total merchandising export |
0.02% (2018) |
Shares in world total commercial services export |
0.06% (2018) |
Total exports |
USD 8.2 billion (2018 estimate) |
Export commodities |
Gold, coffee, cashew nuts, manufactures, cotton |
Total imports |
USD 10.2 billion (2018 estimate) |
Import commodities |
Consumer goods, machinery and transportation equipment, industrial raw materials, crude oil |
Exports – major partners |
India 21.8%, South Africa 17.9%, Kenya 8.8%, Switzerland 6.7%, Belgium 5.9%, Democratic Republic of the Congo 5.8%, China 4.8% (2017) |
Imports – major partners |
India 16.5%, China 15.8%, UAE 9.2%, Saudi Arabia 7.9%, South Africa 5.1%, Japan 4.9%, Switzerland 4.4% (2017) |
Competitiveness & Trade
Current account balance |
USD -2.1 billion (2018 estimate) |
---|---|
Current account balance by percentage of GDP |
-3.7% (2018 estimate) |
FDI inflows |
2016 USD 864 million 2017 USD 938 million 2018 USD 1,105 million |
FDI Outflows | N/A |
Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 141 out of 190 countries (2019) Subcategories: Starting a Business: 162 out of 190 countries Dealing with Construction Permits: 149 out of 190 countries Getting Electricity: 85 out of 190 countries Registering Property: 146 out of 190 countries Getting Credit: 67 out of 190 countries Protecting Minority Investors: 105 out of 190 countries Paying Taxes: 165 out of 190 countries Trading across Borders: 182 out of 190 countries Enforcing Contracts: 71 out of 190 countries Resolving Insolvency: 116 out of 190 countries |
Global competitiveness ranking |
117 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 94 / Score: 60.2 (Moderately free) (2019) (100=totally free 0=totally repressed ) |
Population & Geographic Data
Time Zone |
UTC+3 |
---|---|
Total Area |
947,300 sq km |
Total Population |
1990 24.51 million 2000 32.54 million 2010 43.06 million 2015* 49.99 million 2020* 58 million *Estimate |
Urban population as % of total population |
1960 5.2% 1980 14.6% 2000 22.3% 2020 33.8% |
Population median age |
17.9 years (2018 estimate) |
Population growth rate |
2.74% (2018 estimate) |
Life expectancy |
63.1 years (2018 estimate) |
% of population living on less than $3.10 a day |
79% (2018) |
Inequality of wealth distribution (Gini index) |
37.8 (2011) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Political Rights: 4 Civil Liberties: 5 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed 0.2% Mobile 77.2% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
25% (2017) |
Language & Religon
Languages |
Kiswahili or Swahili (official), Kiunguja (name for Swahili in Zanzibar), English (official, primary language of commerce, administration, and higher education), Arabic (widely spoken in Zanzibar), many local languages Note: Kiswahili (Swahili) is the mother tongue of the Bantu people living in Zanzibar and nearby coastal Tanzania; although Kiswahili is Bantu in structure and origin, its vocabulary draws on a variety of sources including Arabic and English; it has become the lingua franca of central and eastern Africa; the first language of most people is one of the local languages |
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Literacy |
Total population: 77.9% Male: 83.2% Female: 73.1% (2015 est.) (age 15 and over can read and write Kiswahili (Swahili), English, or Arabic) |
Religions |
Christian 61.4%, Muslim 35.2%, folk religion 1.8%, other 0.2%, unaffiliated 1.4% Note: Zanzibar is almost entirely Muslim (2010 est.) |
World Rankings
Population | 2.8 M |
---|---|
Mercer Cost of living index | N/A |
C02 Emissions per capita |
1.9 metric tons per capita (2018) |
Global Finance Rankings & Awards: Tanzania
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000