According to the World Bank (WB), the value of Tanzania’s GDP at current prices reached USD 75.5 billion in 2022.
The GDP per capita (current USD) was USD 1,192.4 in 2022.
The GDP of Tanzania expanded by 4.6% in 2022, up from 4.3% in 2021.
Similarly, according to the IMF, the real GDP growth of Tanzania in 2022 was +4.7%.
Tanzania’s annual GDP growth rate of 2022 beat that of Sub-Saharan Africa with an average GDP growth rate of +4.2% during the same period.
However, the GDP growth rate of Tanzania has been slowing down in recent years, from a peak of +7.9% in 2011.
The GDP per capita rose by 1.4% in 2022 and the international poverty rate dropped marginally by 0.3% points.
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 GDP in 2023, 2024, and 2025
The WB projects Tanzania’s GDP growth to reach 5.1% in 2023–about 2.2% per capita–as investment increases and external terms of trade improve.
An improving business climate and the implementation of structural reforms are expected to boost annual GDP growth to 5.6% in 2024, 6.0% in 2025, and 6.4% in 2026.
Similarly, according to the International Monetary Fund (IMF) World Economic Outlook of October 2023, the real GDP growth of Tanzania in 2022 was 4.7% % in 2022, and it is projected to be 5.2% in 2023, and 6.1% and 7.0% in 2024 and 2025 respectively.
On the same line, the Central Bank of Tanzania (BOT), in its Monetary Policy Committee Meeting Statement, issued in February 2024, estimates that the country’s GDP growth reached 5% in 2023. It also forecasts a GDP growth of 5.5% in 2024.
For its part, the African Development Bank (AfDB) in its African Economic Outlook Report 2024,) projects that Tanzania’s real GDP growth will reach 5.7% in 2024 and 6% in 2025, driven by agriculture, manufacturing, and tourism and supported by public investments and reforms to improve the business environment.
Tanzania’s Gross National Income (GNI)
According to the WB , Tanzania’s GNI (current USD) was USD 76.81 billion 75.94 billion in 2024, from USD 77.55 billion in 2023.
The WB classifies Tanzania as a lower middle-income economy with a GNI per capita (current USD) of USD 1,200 in 2024 against an average of USD 1,513 in Sub-Saharan Africa.
Last Updated: 1st June 2025
Sources: African Development Bank (AfDB), Bank of Tanzania (BoT), International Monetary Fund (IMF), Tanzania National Bureau of Statistics, World Bank (WB).
Tanzania Mainland GDP grew 6.3% in Q2 2025, driven by agriculture and mining, while inflation averaged 3.4% in Q3 within the 3–5% target range. The Bank of Tanzania bulletin shows stable growth, strong exports, and solid reserves.
The IMF’s October 2025 Regional Economic Outlook projects Tanzania’s GDP growth at 6.0% in 2025 and 6.3% in 2026, with inflation remaining moderate at 3.3% and 3.5%. The report highlights Tanzania’s fiscal discipline, declining debt levels, and successful tax reforms supporting continued economic stability.
The Government of Tanzania plans to enact investor-friendly laws to align with Vision 2050 and achieve a USD 1 trillion economy. Officials emphasized legal reforms, contract management, and Public-Private Partnership (PPP) efficiency to boost collaboration between the public and private sectors.
According to Bank of Tanzania data released on 13 October, Tanzania’s GDP grew 5.4% in Q1 2025 at 2015 constant prices, driven by electricity with 19% growth, mining 16.6%, and financial services 15.4%. Agriculture expanded 3.0%, while other sectors such as education and transport grew moderately.
The Bank of Tanzania’s Monetary Policy Committee has decided to keep the Central Bank Rate (CBR) at 5.75%. The decision reflects the projection of stable inflation within the target range of 3–5%. GDP growth is also expected to remain strong and exceed 6%.
The IMF concluded its mission to Tanzania in September 2025, reporting 5.4% growth in Q1 2025, low inflation at 3.4%, and strong performance in mining, agriculture, and manufacturing. In 2025, high gold prices and strong tourist arrivals are expected to sustain export momentum and help maintain a moderate current account deficit.
The Bank of Tanzania’s Monetary Policy Committee has decided to lower the Central Bank Rate (CBR) by 25 basis points, to 5.75% from 6.00%. Consequently, the Bank will implement monetary policy to ensure that the 7-day interbank rate stabilizes within the CBR corridor of 3.75-7.75%.
The IMF Executive Board approved a USD 448.4 million disbursement to Tanzania on 27 June 2025 under the ECF and RSF arrangements following the 2025 Article IV consultation. Tanzania's economic outlook remains positive with projected 6% growth in 2025, contingent on continued reform implementation.
Tanzania's economy grew by 5.5% in 2024 to TZS 156.6 trillion, driven by electricity generation from the Julius Nyerere Hydropower Plant, infrastructure investments, and improved agricultural production. The government plans to continue large-scale energy, transport, and social development projects in 2025/26 to achieve the goals of Vision 2050, with a priority on industrial capacity, competitiveness, and inclusive growth.
On 13th June 2025, Fitch Ratings reaffirmed Tanzania’s Long-Term Foreign-Currency IDR at ‘B+’ with a Stable Outlook, supported by strong GDP growth and low inflation. The rating is constrained by weak governance, fiscal pressures, and FX market distortions.
June 14, 2025
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