Indicators of economy in Tanzania
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Tanzania, on the other hand, reached USD 1,067 per capita, or 67.84 billion USD for the whole country. Tanzania is therefore currently ranked 77 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Tanzania ranks 166th in the list of the richest countries.Inflation in Tanzania in 2022 was around 4.35%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.
The index for perceived corruption in the public sector is 38, which is below average by global standards.
Back to overview: Tanzania
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Tanzania in 2020 increased from 61.14 billion US dollars to 62.41 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 2.1 percent increase has been rather unusual this year. While most countries have suffered significant losses, Tanzania has certainly held its own. The unemployment rate rose from 2.2 to 2.8 percent. The inflation rate fell from 3.5 percent previously to 3.3 percent by the end of 2020.Income and purchasing power
The average monthly income in Tanzania is 92 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 67.4 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Tanzania than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 95.2 percent less.However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.
Unemployment rates in percentages 1991 - 2022
Economic performance 2021
| Tanzania Total | Tanzania per capita | EU Total | EU per capita | |
|---|---|---|---|---|
| GDP | 67.84 bn USD | 1,066.88 USD | 17.177 tn USD | 33,384.92 USD |
| Gross national product | 67.79 bn USD | 1,066.04 USD | 16.895 tn USD | 32,835.37 USD |
In the Global Innovation Index, Tanzania ranked 103rd in 2022 with 19.4 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.
Development of gross domestic product in billions of USD 1988 - 2021
Imports and Exports 2020
| Tanzania Total | Tanzania per capita | EU Total | EU per capita | |
|---|---|---|---|---|
| Imports | 9.18 bn USD | 144.38 USD | 8.916 tn USD | 17,329.02 USD |
| Exports | 8.56 bn USD | 134.54 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in billions of USD 1976 - 2020
Exports
Imports
Largest airports and airlines in Tanzania
List of the 11 current Pariah States
Active volcanoes and eruptions in the United States