Tanzania
Tanzania has good prospects for economic growth, import cover levels are comfortable, and political risk is relatively low. However, these strengths are offset by weak socioeconomic indicators, structurally large current account and budget deficits, and rising debt levels. Another problem is that protectionist policies may begin to affect investment into the mining and energy sectors.
Real GDP growth was stronger in Q3 2018, recorded at 6.8% y-o-y from 6.3% y-o-y during the previous quarter. Growth in the quarter was supported by a recovery in both the industrial and services sectors while the agricultural sector’s performance remained strong. Overall, real GDP growth eased from 6.8% in 2017 to an estimated 6.6% last year. Looking ahead, the economic outlook is positive and supported by multiplier effects from public infrastructure investments, the expansion of services and increasing hydrocarbons exploitation. Real GDP growth is forecast to reach 6.4% this year and to remain strong over the medium term, trending above 6% p.a. (Source: Tanzania Quarterly Update, published March 2019)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-1.9 |
|
Consumer Price Index (% change y-o-y, avg) |
3.5x |
|
Current Account Balance (as a % of GDP) |
-4.6 |
|
Real GDP (annual % change) |
6.6 |
|
GDP per Capita, US$ |
976 |
|
Import Cover (months) |
7.3 |
|
Population, million |
59.2 |
| Total External Debt (as a % of GDP) |
34.8 |