Tanzania GDP Grew by +4.9% in Q1 2021 Thanks to Gold Production

Tanzania GDP Growth Q1 2017 Q1 2021

In the quarter ending March 2021, the economy of Tanzania grew by 4.9% compared with 5.9% in the corresponding quarter in 2020, the Bank of Tanzania (BOT) indicates in its latest Economic Bulletin of June 2021.

The activities which mostly contributed to the growth were construction (14.9%), transport and storage (14.6%), agriculture (12.7%), manufacturing (9.8%, and mining and quarrying (8.8%).

Accommodation and restaurant sub-group contributed negatively to growth (-1.7%) as it was heavily affected by the COVID-19 pandemic.

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As for growth across activities, mining and quarrying recorded the highest growth of 10.2% attributed to an increase in the production of gold, coal, and gypsum.

Information and communication grew by 9.1% due to increased use of airtime by mobile phone customers and the expansion of broadcasting and internet services in the country.

Transport and storage grew by 9.0% due to the increased number of passengers carried and freight handled.

The improvement of water production infrastructure to match demand was among the factors which contributed to the growth of water supply by 9.0%.

Tanzania Gold and Diamond Production Q2 2021

Source: mining companies

The value of gold produced by large-scale miners slightly decreased to 10,009.6 kg for a total value of USD 469.0 million in the quarter ending June 2021 from 11,130 kg and a value of USD 477.58 million in the similar quarter in 2020.

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There was no diamond production during the quarter, mainly due to the temporary closure for maintenance of the large-scale Williamson Petra Diamonds mine.

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