GDP

Tanzanian GDP in 2021

According to the Bank of Tanzania (BOT) and the International Monetary Fund (IMF), the real GDP of Tanzania grew by 4.9% in 2021 reaching USD 70.28 billion.

The real GDP of Tanzania was USD 64.4 billion in 2020 and USD 60.8 billion in 2019.

Tanzanian GDP in 2022 and Beyond

Tanzania’s annual GDP growth rate of 6.3% over the past 10 years (2010-2019) placed the country among the 20 fastest growing economies in the world, beating the Sub-Saharan Africa average GDP growth rate of 3.5% during the same period.

However, the GDP growth rate has been slowing down in recent years, from a peak of 7.9% in 2011.

The IMF projects a GDP growth for Tanzania of +5.1% in 2022, and 6.0% in 2026.

In April 2021, Tanzania’s new president Samia Suluhu Hassan gave her first speech to the parliament, mentioning the priorities of the Sixth Phase Government in the next five years to reach a GDP growth rate of at least 8% yearly.

Tanzania Gross National Income (GNI)

The World Bank (WB) classifies Tanzania as a lower middle-income economy with a GNI per capita of USD 1,080 in 2019, against an average of USD 1,550 in Sub-Saharan Africa.

GNI per capita in Tanzania rose by 6.1% during the ten-year period 2010–2019, from USD 720 to USD 1,080.

Last Updated: 7th June 2022

Sources: African Development Bank (AfDB), Bank of Tanzania (BoT), International Monetary Fund (IMF), Tanzania National Bureau of Statistics, World Bank (WB).