Tanzania

Tanzania country profile

 

 

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Short name Tanzania
Official  name

United Republic of Tanzania

Location East Africa
Capital Dodoma
Population 47.6 million inhabitants
Area 945,087 sq km (364,900 sq miles)
Languages Swahili, English (official)
Religions Christianity, Islam

 

 

Tanzania has been spared the internal strife that has blighted many African states.

Tanzania is home to two renowned tourism destinations – Africa’s highest mountain, Kilimanjaro, and wildlife-rich national parks such as the Serengeti – but has become a target for poachers.

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Tanzania is the 102nd largest export economy in the world and the 114th most complex economy according to the Economic Complexity Index (ECI). In 2014, Tanzania exported $6.4B and imported $13.5B, resulting in a negative trade balance of $7.07B. In 2014 the GDP of Tanzania was $48.1B and its GDP per capita was $2.54k.

The top export destinations of Tanzania are India ($1.09B), South Africa ($754M), China ($530M), Kenya ($445M) and Japan ($392M). The top import origins are India ($2.55B), China ($2.32B), the United Arab Emirates ($1.12B), Switzerland ($839M) and Kenya ($646M).

Tanzania borders Burundi, the Democratic Republic of the Congo, Kenya, Mozambique, Malawi, Rwanda, Uganda and Zambia by land and Comoros and the Seychelles by sea.

Trade Balance

As of 2014 Tanzania had a negative trade balance of $7.07B in net imports. As compared to their trade balance in 1995 when they still had a negative trade balance of $1.18B in net imports.

 

 

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Exports

The top exports of Tanzania are Gold ($1.37B), Raw Tobacco ($402M), Precious Metal Ore ($366M), Other Oily Seeds ($280M) and Copper Ore ($244M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($3.42B), Palm Oil ($354M), Packaged Medicaments ($339M), Cars ($310M) and Wheat ($247M).

 

In 2014 Tanzania exported $6.4B, making it the 102nd largest exporter in the world. During the last five years the exports of Tanzania have increased at an annualized rate of 14.9%, from $3.2B in 2009 to $6.4B in 2014. The most recent exports are led by Gold which represent 21.5% of the total exports of Tanzania, followed by Raw Tobacco, which account for 6.28%.

Imports

In 2014 Tanzania imported $13.5B, making it the 90th largest importer in the world. During the last five years the imports of Tanzania have increased at an annualized rate of 15%, from $6.69B in 2009 to $13.5B in 2014. The most recent imports are Refined Petroleum ($3.42B), Palm Oil($354M), Packaged Medicaments ($339M), Cars ($310M) and Wheat($247M).

 

Destinations

The top export destinations of Tanzania are India ($1.09B), South Africa ($754M), China ($530M), Kenya ($445M) and Japan ($392M).

Origins

The top import origins of Tanzania are India ($2.55B), China ($2.32B), the United Arab Emirates ($1.12B), Switzerland ($839M) and Kenya ($646M).

Finance and Investment

Gold and natural gas are among the many resources in Tanzania. Poor overall development has hurt the development of these resources. Tanzanian industry is limited to processing agricultural products and some consumer goods.

The country is the third largest gold producer in Africa. Reforms in the banking and public sectors, along with new legislative frameworks, have led to investment and growth in the private-sector.

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