Economy - overview:
Tanzania is one of the world's poorest economies in terms of per capita income, but has achieved high growth rates based on its vast natural resource wealth and tourism. GDP growth in 2009-15 was an impressive 6-7% per year. Dar es Salaam used fiscal stimulus measures and easier monetary policies to lessen the impact of the global recession. Tanzania has largely completed its transition to a market economy, though the government retains a presence in sectors such as telecommunications, banking, energy, and mining.The economy depends on agriculture, which accounts for more than one-quarter of GDP, provides 85% of exports, and employs about 80% of the work force; agriculture accounts for 7% of government expenditures. All land in Tanzania is owned by the government, which can lease land for up to 99 years. Proposed reforms to allow for land ownership, particularly foreign land ownership, remain unpopular.The financial sector in Tanzania has expanded in recent years and foreign-owned banks account for about 48% of the banking industry's total assets. Competition among foreign commercial banks has resulted in significant improvements in the efficiency and quality of financial services, though interest rates are still relatively high, reflecting high fraud risk. Recent banking reforms have helped increase private-sector growth and investment.The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's aging infrastructure, including rail and port, that provide important trade links for inland countries. In 2013, Tanzania completed the world's largest Millennium Challenge Compact grant, worth $698 million, and, in December 2014, the Millennium Challenge Corporation selected Tanzania for a second Compact.In late 2014, a highly publicized scandal in the energy sector involving senior Tanzanian officials resulted in international donors freezing nearly $500 million in direct budget support to the government. The Tanzanian shilling weakened in 2015 because of lower gold prices, election-related political risk, and outflows from emerging market currencies generally.

GDP (purchasing power parity):
$138.3 billion (2015 est.) $129.4 billion (2014 est.) $121 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 76
[see also: GDP country ranks ]

GDP (official exchange rate):
$46.19 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.9% (2015 est.) 7% (2014 est.) 7.3% (2013 est.)
country comparison to the world: 17
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$3,000 (2015 est.) $2,800 (2014 est.) $2,600 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 188
[see also: GDP - per capita country ranks ]

Gross national saving:
22.7% of GDP (2015 est.) 21.9% of GDP (2014 est.) 15.1% of GDP (2013 est.)
country comparison to the world: 65
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 68%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 29.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 18.7%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -31.8% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 26.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 25.6%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 47.3% (2014 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

Industries:
agricultural processing (sugar, beer, cigarettes, sisal twine); mining (diamonds, gold, and iron), salt, soda ash; cement, oil refining, shoes, apparel, wood products, fertilizer

Industrial production growth rate:
5.3% (2015 est.)
country comparison to the world: 26
[see also: Industrial production growth rate country ranks ]

Labor force:
26.11 million (2015 est.)
country comparison to the world: 26
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 80%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 20% (2002 est.)

Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]

Population below poverty line:
67.9% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 29.6% (2007)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
37.6 (2007) 34.6 (2000)
country comparison to the world: 76
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $6.819 billion
[see also: Budget revenues country ranks ]
expenditures: $8.431 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
14.8% of GDP (2015 est.)
country comparison to the world: 195
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.5% of GDP (2015 est.)
country comparison to the world: 133
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
36.9% of GDP (2015 est.) 31.7% of GDP (2014 est.)
country comparison to the world: 123
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
6.6% (2015 est.) 6.1% (2014 est.)
country comparison to the world: 187
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
8.25% (31 December 2010) 3.7% (31 December 2009)
country comparison to the world: 36
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15.2% (31 December 2015 est.) 15.75% (31 December 2014 est.)
country comparison to the world: 38
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$3.957 billion (31 December 2015 est.) $4.805 billion (31 December 2014 est.)
country comparison to the world: 108
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$8.072 billion (31 December 2014 est.) $7.533 billion (31 December 2013 est.)
country comparison to the world: 115
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$7.726 billion (31 December 2015 est.) $9.318 billion (31 December 2014 est.)
country comparison to the world: 110
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$1.803 billion (31 December 2012 est.) $1.539 billion (31 December 2011) $1.264 billion (31 December 2010 est.)
country comparison to the world: 102
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$3.775 billion (2015 est.) -$4.476 billion (2014 est.)
country comparison to the world: 164
[see also: Current account balance country ranks ]

Exports:
$5.365 billion (2015 est.) $5.319 billion (2014 est.)
country comparison to the world: 107
[see also: Exports country ranks ]

Exports - commodities:
gold, coffee, cashew nuts, manufactures, cotton

Exports - partners:
India 21%, China 9.9%, Japan 5.3%, Germany 4.7% (2014)

Imports:
$10.49 billion (2015 est.) $10.92 billion (2014 est.)
country comparison to the world: 96
[see also: Imports country ranks ]

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

Imports - partners:
China 27.6%, India 24.5% (2014)

Reserves of foreign exchange and gold:
$4.021 billion (31 December 2015 est.) $4.39 billion (31 December 2014 est.)
note: excludes gold
country comparison to the world: 100
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$14.12 billion (31 December 2014 est.) $13.02 billion (31 December 2013 est.)
country comparison to the world: 99
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Tanzanian shillings (TZS) per US dollar - 2,039.4 (2015 est.) 1,654 (2014 est.) 1,654 (2013 est.) 1,583 (2012 est.) 1,572.1 (2011 est.)