Tanzania’s GDP in current prices was USD 57.

4 billion in 2018, making it the 3rd largest economy in East

Africa after Kenya and Ethiopia, and the 7th largest in Sub-Saharan Africa (source: World Bank). The
leading contributors to Tanzania’s economy in 2018 were construction (23%), followed by trade and
repair (11.1%), agriculture (10.7%), manufacturing (10%), information and communication (9.5%),
transport and storage (7.3%), mining (5.2%), and others (23.1%). During the last decade (2009-2018) the
country experienced strong economic growth with an average GDP growth rate of 6.6% while over the
past year, Tanzania’s GDP growth slowed to 5.2%. In 2018, Tanzania’s annual inflation rate declined to
3.5% from 5.3% in 2017 and 7.9% in 2013. The WB classifies Tanzania as a low-income economy with a
GNI per capita of USD 1,020 in 2018, against an average of USD 1,507 in Sub-Saharan Africa. According
to the Tanzanian Ministry of Finance and Planning’s 2025 Vision, the country aims to become a middle-
income country by that year, which requires a GNI per capita between USD 1,045 and USD 12,736.
Tanzania’s budget focuses on the country’s development plan to build an industrial economy and
improve the welfare of the citizens. To facilitate this, the Government has allocated 37% (USD 5.3bn) of
Tanzania’s 2019/20 budget of USD 14.3bn to development projects in transport, oil and gas, and
hydropower. Tanzania is drawing external investments mostly mining sector, the oil and gas industry, as
well as the primary agricultural products sector. In 2018, Tanzania’s FDI net inflows were USD 1.1 billion
in 2018 representing an 18% increase compared to 2017 (USD 938 million)

Read more at: https://www.tanzaniainvest.com/economy and follow us on

www.twitter.com/tanzaniainvest