The economic architecture of Tanzania is substantial, anchored by a Gross Domestic Product (GDP) of approximately $79.06B
2023
. This places it as the 79th largest economy out of 192 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $1.22K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $259.47B, offering a clearer picture of the population's domestic purchasing power. The economy is experiencing a period of vigorous expansion, with a high growth rate of 5.1%
2023
, while managing moderate inflation, with a CPI of 3.1%.
2024
On the global stage, Tanzania's trade and financial dynamics reveal a complex interplay of international and domestic factors. The country exhibits a balanced trade profile, with exports making up 17.2% of GDP and imports 21.0%
2023
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting 2.06% of the economy
2023
. This performance positions the country 91st globally out of 187 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $758.81M annually
2023
. The government operates under fiscal constraints, with a limited tax base that generates revenue equivalent to only 11.5% of GDP.
2023
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $1,220
2023
, ranking the nation 166th out of 191. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The labor market demonstrates considerable strength, with a low unemployment rate of 2.6%, suggesting conditions close to full employment.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 26.2% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 26.4% of the population living below the national poverty line
2018
. The nation exhibits a moderate degree of income inequality, with a Gini index of 40.5.
2018
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 405.146 kg of oil equivalent
2022
, a metric that often correlates with industrial activity and living standards. The country is at the forefront of the global green transition, with renewable sources constituting a remarkable 78.3% of total final energy consumption
2021
. This commitment places it 172nd among 191 countries, highlighting its relative progress in decarbonization. Total greenhouse gas emissions were last recorded at 89.82K tonnes of CO2 equivalent
2023
, a key factor in its national climate strategy and international obligations.

Key Economic Insights

Macroeconomic Health

The economy exhibits robust health, characterized by a "Goldilocks" scenario of strong growth, low inflation, and low unemployment.

Trade & Investment Profile

Primarily fueled by domestic demand, the economy has a degree of insulation from global trade volatility but may miss export-led growth opportunities.

Social Equity & Distribution

Ensuring equitable distribution of economic gains is fundamental for long-term social and political stability.

Energy & Sustainability

A global leader in the green transition, the country leverages its strong commitment to renewable energy as a key economic and diplomatic advantage.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.