Tanzania is in the bottom ten percent of the world's economies in terms of per capita income. The economy depends heavily on agriculture, which accounts for more than 40% of GDP, provides 85% of exports, and employs 80% of the work force. Topography and climatic conditions, however, limit cultivated crops to only 4% of the land area. Industry traditionally featured the processing of agricultural products and light consumer goods. The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty. Long-term growth through 2005 featured a pickup in industrial production and a substantial increase in output of minerals led by gold. Recent banking reforms have helped increase private-sector growth and investment. Continued donor assistance and solid macroeconomic policies supported real GDP growth of 7.1% in 2008.
GDP (purchasing power parity):
$54.38 billion (2008 est.) country comparison to the world: 88 $50.77 billion (2007 est.)
$47.38 billion (2006 est.)
note: data are in 2008 US dollars
GDP (official exchange rate):
$20.67 billion (2008 est.)
GDP - real growth rate:
7.1% (2008 est.) country comparison to the world: 36 7.1% (2007 est.)
6.7% (2006 est.)