GDP

Tanzania GDP in 2022 

According to the World Bank (WB), the value of Tanzania’s GDP at current prices reached USD 75.5 billion in 2022.

Tanzania’s GDP has maintained its growth momentum, expanding 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%.

GDP per capita rose by +1.4% in 2022 and the international poverty rate dropped marginally by 0.3 percentage points.

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.

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

According to the WB, the real GDP growth of Tanzania is projected to grow by +5.2%, +5.6%, and +6.2% in 2023, 2024, and 2025 respectively.

Similarly, according to the IMF, the real GDP growth of Tanzania is projected to grow by +5.2%, +6.2%, and +7.0% in 2023, 2024, and 2025 respectively.

In its Africa’s Macroeconomic Performance and Outlook – January 2023, the African Development Bank (AfDB) estimates that the GDP of Tanzania will grow by +5.1% in 2023, and by +6.1% in 2024.

Tanzania’s Gross National Income (GNI)

The World Bank (WB) classifies Tanzania as a lower middle-income economy with a GNI per capita (constant LCU) of USD 1,110 in 2021, against an average of USD 1,562 in Sub-Saharan Africa.

GNI per capita in Tanzania rose by 38.75% during the ten-year period 2012–2021, from USD 800.

Last Updated: 26th April 2023

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