GDP: USD 16.84 billion
•
Real GDP growth rate: 7.1%
•
GDP per capita: USD 440.8
•
Inflation: 7.0 %
•
Total Exports to the world: USD 2.021 billion
•
Total Imports from the world: USD 4.827 billion
•
Exports to the United States of America: USD 2.8 million
•
Imports from the United States of America: USD 187.1 million
•
Mean Exchange Rate: Tsh. 1,244 per USD 1
Source: Bank of Tanzania (BOT)
Primary destinations of exports in 2007: ($ US millions)
•
European Union (EU) and Switzerland:759.3
•
Asia (China, Japan, India, UAE, Hong Kong): 378.2
•
SADC: 300.8
•
East African Community (EAC): 173.1
Source: Bank of Tanzania (BOT) and Tanzania Revenue Authority (TRA)
Primary origins of imports in 2007: ($ US millions)
•
Asia (China, Japan, India, UAE, Hong Kong): 1960.2
•
European Union (EU) and Switzerland: 1274.6
•
SADC: 656.2
•
EAC: 106.6
Source: Bank of Tanzania (BOT)
Natural Resources:
Tanzania has abundant natural resources, particularly for agriculture, mining, energy
and tourism. The country has 44 million hectares of arable fertile land. The great East
African lakes -Victoria, Tanganyika and Nyasa - are partly within Tanzania. The country's
natural features include the Ngorongoro crater, Lake Manyara, Mount Kilimanjaro (the
highest peak in Africa), the Indian Ocean coastline and the islands of Zanzibar, rivers
with hydroelectric potential, diamonds, gemstones, gold, coal, iron, nickel, forest
products, domesticated livestock, wildlife, fisheries and marine products, natural gas and
possibly oil.
Market Challenges
Return to top
As in any emerging market, doing business in Tanzania has its challenges:
•
Unreliable, high-cost power
•
Underdeveloped transport system
•
Bureaucratic "red tape" and widespread corruption, particularly in customs and tax
authorities
•
Limited availability of skilled labor
• Lack of technological resources