The Tanzania National Bureau of Statistics (NBS) recently released its Highlights Of The Second Quarter Gross Domestic Product (April – June) 2019 Report, indicating that the value of GDP at constant prices grew by 7.2% compared to the value in the same period of 2018.
The value of GDP at constant prices (which accounts for inflation) increased to TZS 30,694,320 million in Q2 2019 from TZS 28,625,492 million in Q2 2018.
In Q2 2018, GDP grew by 6.1% compared to the same period of 2017.
Further, during the second quarter of 2019, the value of QGDP in absolute terms at current prices was TZS 34,975,992 million compared to TZS 32,305,409 million in the similar quarter of 2018.
During the period under review, the largest share to GDP was from Tertiary activities which accounted for 41.5%, followed by Primary activities by 32.9%, and Secondary activities had the least share of 25.7%, before adjustment for taxes.
Construction activity recorded the highest growth of 19.6%, followed by mining and quarrying (17.2%), and information and communication (10.3%).
In the first quarter of 2019, the value of GDP in constant prices grew by 6.6%, down from 7.5% in Q1 2018.
Economic Growth in the East Africa Region
The economic performance in the East Africa Region during the reference period in 2019 showed that Kenya grew by 5.6% in the second quarter of 2019 compared to a growth rate of 6.4% recorded in the second quarter of 2018.
Uganda’s economy recorded a growth rate of 5.4% compared to a growth rate of 5.0% in 2018.
Rwanda’s economy expanded by 12.2% compared to 6.8% in 2018.
GDP estimates for Burundi and South Sudan have not been released.