The economy of Tanzania advanced by 5.7 percent year-on-year in the first quarter of 2020, following a downwardly revised 6.2 percent growth in the previous period. That was the slowest economic expansion since the third quarter of 2017, mainly linked to the Covid-19 outbreak. The government projects Tanzania's economic growth at 5.5 percent in 2020, while the World Bank sees it at 2.6 percent.

GDP Annual Growth Rate in Tanzania averaged 6.66 percent from 2002 until 2020, reaching an all time high of 11.90 percent in the first quarter of 2007 and a record low of 2.60 percent in the third quarter of 2009. This page provides - Tanzania GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Tanzania GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.

GDP Annual Growth Rate in Tanzania is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Tanzania to stand at 4.60 in 12 months time. In the long-term, the Tanzania GDP Annual Growth Rate is projected to trend around 5.00 percent in 2021 and 6.50 percent in 2022, according to our econometric models.

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Tanzania GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.70 6.20 11.90 2.60 2002 - 2020 percent Quarterly
2015=100, NSA


Calendar GMT Actual Previous Consensus TEForecast
2016-09-29 08:15 AM Q2 7.9% 5.5% 5.2%
2017-01-02 01:20 PM Q3 6.2% 7.9% 7.2%
2017-10-16 02:30 PM Q2 7.8% 5.7% 7.1%
2018-02-01 01:30 PM Q3 6.8% 7.8% 6.8%
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Tanzania GDP Annual Growth Rate
Services is the biggest sector of Tanzania's economy and accounts for 40 percent of GDP, namely wholesale and retail trade (12 percent); public administration and defense (6 percent) and transport and storage (5 percent). The primary sector accounts for 30 percent of GDP, mainly due to crops production (18 percent). The industrial sector represents 28 percent of total wealth, namely manufacturing (6 percent) and mining and quarrying (5 percent) including natural gas, gold, diamonds, coal, iron ore, uranium, nickel, chrome, tin, platinum, coltan and niobium.