10 Surprising Facts About The GDP of Tanzania: A Comprehensive Guide
GDP, or Gross Domestic Product, is an important indicator of a country’s economic growth and development.
Tanzania, a country located in East Africa, has been making significant strides in its GDP over the years.
In this comprehensive guide, we will be exploring 10 surprising facts about the GDP of Tanzania.
- Tanzania’s GDP has been growing steadily over the years Tanzania’s GDP has been steadily growing at an average rate of 6-7% annually over the past decade. This growth has been attributed to the country’s agricultural and mining sectors.
- Agriculture is the backbone of Tanzania’s economy Tanzania’s agriculture sector contributes to about 30% of the country’s GDP, making it the largest sector in the economy. The country’s fertile land and favorable climate make it ideal for farming.
- Tanzania is one of the largest gold producers in Africa Tanzania is one of the largest gold producers in Africa, with the country’s mining sector contributing significantly to its GDP. Gold exports account for a significant percentage of Tanzania’s total export earnings.
- Tanzania’s GDP per capita is among the lowest in the world Despite the country’s impressive economic growth, Tanzania’s GDP per capita is among the lowest in the world. This is largely due to the country’s large population and income inequality.
- Tanzania is home to some of the world’s most beautiful natural reserves Tanzania is home to some of the world’s most beautiful natural reserves, including the Serengeti National Park and the Ngorongoro Conservation Area. These reserves attract a significant number of tourists, contributing to the country’s GDP.
- The service sector is growing rapidly Tanzania’s service sector is growing rapidly, contributing to a significant portion of the country’s GDP. The sector is mainly driven by telecommunications, transportation, and financial services.
- Tanzania’s GDP is projected to continue growing in the coming years, driven by the country’s mining and agriculture sectors.
- Tanzania has a favorable business environment, with the country’s government implementing policies that support business growth and development. This has attracted a significant amount of foreign direct investment (FDI).
- The manufacturing sector is growing slowly The manufacturing sector in Tanzania is growing slowly, contributing only a small portion of the country’s GDP. This is largely due to the lack of infrastructure and skilled labor.
- Tanzania is a member of the East African Community (EAC), a regional intergovernmental organization that aims to promote economic integration and development among member states. The EAC has been instrumental in promoting trade and investment in the region.
GDP of Tanzania
| GDP nominal (2017) | GDP growth rate (2017) |
|---|---|
$53,320,625,959 |
7.10% |
- Nominal (current) Gross Domestic Product (GDP) of Tanzania is $53,320,625,959 (USD) as of 2017.
- Real GDP (constant, inflation adjusted) of the United Republic of Tanzania reached $49,736,720,778 in 2017.
- GDP Growth Rate in 2017 was 7.10%, representing a change of 3,160,512,503 US$ over 2016 when Real GDP was $46,576,208,275.
- GDP per Capita in the United Republic of Tanzania (with a population of 54,660,339 people) was $910 in 2017, an increase of $32 from $878 in 2016; this represents a change of 3.6% in GDP per capita.
Gross Domestic Product (GDP) of Tanzania
| Year | GDP Nominal (Current USD) |
GDP Real (Inflation adj.) |
GDP change |
GDP per capita | Pop. change |
Population |
|---|---|---|---|---|---|---|
| 2017 | $53,320,625,959 | $49,736,720,778 | 7.10% | $910 | 3.04 % | 54,660,339 |
| 2016 | $49,774,021,003 | $46,576,208,275 | 6.97% | $878 | 3.04 % | 53,049,230 |
| 2015 | $47,378,599,025 | $43,583,292,909 | 6.96% | $847 | 3.05 % | 51,482,633 |
| 2014 | $49,964,788,814 | $41,054,102,083 | 6.97% | $822 | 3.05 % | 49,960,561 |
| 2013 | $45,680,532,614 | $38,464,494,648 | 7.26% | $793 | 3.04 % | 48,483,129 |
| 2012 | $39,650,530,214 | $36,021,655,262 | 5.14% | $766 | 3.02 % | 47,053,030 |
| 2011 | $34,657,139,495 | $34,470,432,851 | 7.90% | $755 | 2.99 % | 45,673,512 |
| 2010 | $32,014,249,841 | $32,014,249,841 | 6.36% | $722 | 2.95 % | 44,346,525 |
| 2009 | $29,081,425,282 | $30,106,541,769 | 5.38% | $699 | 2.91 % | 43,073,834 |
| 2008 | $27,941,177,434 | $28,599,598,807 | 5.57% | $683 | 2.88 % | 41,853,944 |
| 2007 | $21,843,529,025 | $27,060,808,434 | 8.46% | $665 | 2.86 % | 40,681,414 |
| 2006 | $18,649,590,248 | $25,345,302,699 | 4.66% | $641 | 2.86 % | 39,548,663 |
| 2005 | $18,399,046,025 | $23,791,208,301 | 8.17% | $619 | 2.86 % | 38,450,320 |
| 2004 | $16,675,948,415 | $22,136,232,861 | 7.83% | $592 | 2.87 % | 37,379,767 |
| 2003 | $15,224,257,698 | $20,591,113,842 | 6.89% | $567 | 2.84 % | 36,337,782 |
| 2002 | $14,142,035,080 | $19,303,061,141 | 7.16% | $546 | 2.76 % | 35,334,788 |
| 2001 | $13,581,644,246 | $18,024,545,018 | 6.00% | $524 | 2.65 % | 34,385,856 |
| 2000 | $13,375,976,354 | $16,992,936,425 | 4.93% | $507 | 2.50 % | 33,499,180 |
| 1999 | $12,711,213,451 | $16,257,949,540 | 4.84% | $497 | 2.37 % | 32,682,239 |
| 1998 | $12,270,448,700 | $15,503,862,778 | 3.71% | $486 | 2.34 % | 31,924,196 |
| 1997 | $7,683,852,497 | $14,949,460,309 | 3.53% | $479 | 2.46 % | 31,192,857 |
| 1996 | $6,496,195,451 | $14,440,396,172 | 4.54% | $474 | 2.68 % | 30,444,526 |
| 1995 | $5,255,221,425 | $13,812,696,574 | 3.57% | $466 | 2.97 % | 29,649,135 |
| 1994 | $4,510,846,968 | $13,336,591,994 | 1.57% | $463 | 3.25 % | 28,792,639 |
See also
- Population of Tanzania
- Demographics of Tanzania
- Demographics of Africa
- Population of Antigua and Barbuda
- Demographics of Latin America and the Caribbean
- World Demographics
- Demographics
- Population
Related Topics:
- Demographics of Europe
- Demographics of Asia
- Demographics of Northern America
- Demographics OF Latin America and the Caribbean
- GDP of Maldives
- GDP of Mauritania
- GDP of Fiji
Sources:
- World Population Prospects: The 2019 Revision – United Nations Population Division
- World Urbanization Prospects – Population Division – United Nations
- GeoNames
- United Nations Statistics Division
- World Bank
- Organisation for Economic Co-operation and Development (OECD)