Economy Of Tanzania - Tanzania Information

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Economy Of Tanzania
Tanzania Information - Country Guides

Economy overview	Tanzania is one of the poorest countries in the world. The economy depends heavily on agriculture, which accounts for about 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 The World Bank, the International Monetary Fund, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty. Growth in 1991-2002 featured a pickup in industrial production and a substantial increase in output of minerals, led by gold. Oil and gas exploration and development played an important role in this growth. Recent banking reforms have helped increase private sector growth and investment. Continued donor assistance and solid macroeconomic policies supported real GDP growth of more than 5.2% in 2004.
GDP	purchasing power parity - $21.58 billion (2004 est.)
GDP - real growth rate	5.2% (2004 est.)
GDP - per capita	purchasing power parity - $600 (2004 est.)
GDP - composition by sector	agriculture: 43.6% industry: 16.5% services: 40% (2004 est.)
Investment gross fixed	17.2% of GDP (2004 est.)
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	4.4% (2004 est.)
Labor force	18.56 million (2004 est.)
Labor force by occupation	agriculture 80%, industry and services 20% (2002 est.)
Unemployment rate	NA
Budget	revenues: $1.879 billion expenditures: $1.873 billion, including capital expenditures of na (2004 est.)
Public debt	6.1% of GDP (2004 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 and gold mining, oil refining, shoes, cement, textiles, wood products, fertilizer, salt
Industrial production growth rate	8.4% (1999 est.)
Electricity production	2.906 billion kWh (2001)
Electricity production by source	fossil fuel: 18.9% hydro: 81.1% other: 0% (2001) nuclear: 0%
Electricity consumption	2.752 billion kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	50 million kWh (2001)
Oil production	0 bbl/day (2001 est.)
Oil consumption	17,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	0 bbl (1 January 2002)
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves	11.33 billion cu m (1 January 2002)
Current account balance	$-617 million (2004 est.)
Exports	$978 million f.o.b. (2004 est.)
Exports commodities	gold, coffee, cashew nuts, manufactures, cotton
Exports partners	Japan 9.5%, India 8.6%, Netherlands 8.2%, Germany 5.3%, UK 5.3%, Kenya 4.8% (2003)
Imports	$1.674 billion f.o.b. (2003 est.)
Imports commodities	consumer goods, machinery and transportation equipment, industrial raw materials, crude oil
Imports partners	South Africa 10.1%, China 9.3%, Zambia 6.4%, India 5.8%, UAE 5.4%, Kenya 5.1%, UK 4.5%, Germany 4% (2003)
Reserves of foreign exchange gold	$2.064 billion (2004 est.)
Debt external	$6.549 billion (2004 est.)
Economic aid recipient	$1.2 billion (2001)
Currency	Tanzanian shilling (TZS)
Currency code	TZS
Exchange rates	Tanzanian shillings per US dollar - NA (2003), 966.583 (2002), 876.412 (2001), 800.409 (2000), 744.759 (1999)
Fiscal year	1 July - 30 June

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Economy Of TanzaniaTanzania Information - Country Guides

Economy Of Tanzania
Tanzania Information - Country Guides