Tanzania

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Introduction - Tanzania:
Location - Tanzania:
People - Tanzania:
Government - Tanzania:
Economy - Tanzania:

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 The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzanias out-of-date economic infrastructure and to alleviate poverty.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 purchasing power parity

$29.62 billion (2006 est.)

Gdp official exchange rate

$13.13 billion (2006 est.)

Gdp real growth rate

5.8% (2006 est.)

Gdp per capita ppp

$800 (2006 est.)

Gdp composition by sector

agriculture: 43.3%
industry: 17.7%
services: 39% (2006 est.)

Labor force

19.35 million (2006 est.)

Labor force by occupation

agriculture: 80%
industry and services: 20% (2002 est.)

Unemployment rate

NA%

Population below poverty line

36% (2002 est.)

Household income or consumption by percentage share

lowest 10%: 2.8%
highest 10%: 30.1% (1993)

Distribution of family income gini index

38.2 (1993)

Inflation rate consumer prices

5.9% (2006 est.)

Investment gross fixed

19% of GDP (2006 est.)

Budget

revenues: $2.431 billion
expenditures: $3.001 billion; including capital expenditures of $NA (2006 est.)

Public debt

30.5% of GDP (2006 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

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.)

Natural gas consumption

0 cu m (2004 est.)

Natural gas proved reserves

22.65 billion cu m (1 January 2005 est.)

Current account balance

-$906 million (2006 est.)

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)

Reserves of foreign exchange and gold

$2.375 billion (2006 est.)

Debt external

$4.61 billion (2006 est.)

Economic aid recipient

$1.2 billion (2001)

Currency code

Tanzanian shilling (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)

Communications - Tanzania:
Transportation - Tanzania:
Military - Tanzania:
This page was last updated on 16 September, 2007
Source: CIA >>>


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