Tanzania has achieved high growth rates based on its vast natural resource wealth and tourism. GDP
growth in 2009-14 averaged an impressive 6-7% per year. In 2014, the Tanzania National Bureau of
Statistics (NBS) revised the national accounts using 2007 as a base year, revealing a more sizable
economy with a 31.4% larger 2013 GDP than previously calculated. Growth has been driven primarily
by transportation, communication, agriculture, manufacturing, electricity, wholesale and retail
trade, real estate, and business services. The economy depends on agriculture, which accounts for
more than one-quarter of GDP, provides 85% of exports, and employs about 80% of the work force.
The World Bank, IMF, and bilateral donors have provided funds to rehabilitate Tanzania’s aging
infrastructure, including rail and port that provide important trade links. Recent banking reforms
have helped increase private-sector growth and investment.
Tanzania has largely completed its transition to a market economy, though the government retains a
presence in sectors such as telecommunications, banking, energy, and mining. Resources include diamonds,
gemstones, gold, coal, iron, nickel, forest product, domesticated livestock, wildlife, fisheries and
marine resources, natural gas and possibly oil. Primary exports in terms of value include gold and
tobacco, while key imports are capital and consumer goods.
Tanzania’s main trading partners are China, India, the European Union (EU) and neighboring Southern
African Development Community (SADC) and East African Community (EAC) countries. Tanzania’s exports
to the United States are dominated by agricultural commodities, minerals and textiles, while imports
from the United States include wheat, agricultural and transport equipment, chemicals, used clothes
Micro, Small and medium Enterprises (MSMEs) information portal, a one stop center for all the information
you need. The information provided here is brought to you by TPSF in collaboration with FSDT in the endeavor
of supporting the entrepreneurs to access important tools of business management, sources of finance, know
and understand markets, business networks and above all a self-training materials for those who would like
to start business ventures for the first time and to those already doing business to acquire more skills and experience.
This Q&A gives an overview of the key issues in establishing a business in Tanzania, including an introduction
to the legal system; the available business vehicles and their applicable formalities; corporate governance
structures and requirements; foreign investment incentives and restrictions; currency regulations; and tax and
employment issues. This article is part of the global guide to establishing a business worldwide.
Women in Business
The Tanzania Women Chamber of Commerce is an umbrella organization uniting sectoral business women associations,
companies, and individuals who have agreed to form a united front to advocate, lobby and network for the well
being of their businesses and prosperity of women entrepreneurs. Current membership stands at 6 associations
and 20 companies; all together about 2000 members.
World Bank Group Doing Business Report:
Knowledge Management Products:
Tanzanian Economic Outlook:
Economic growth has slowed since the last quarter of 2016, following real GDP growth of at least 7% between 2013 and 2016.
Growth in the first two quarters of 2017 averaged 6.8% and was estimated at 6.5% for the full year. Construction, mining,
transport, and communications were key growth drivers in 2017. Growth is projected to remain robust at 6.7% in 2018 and
6.9% in 2019, representing one of the best performances in East Africa. A tightening trade deficit, with a drop in imports
outweighing a decline in exports, is likely to support growth. Public investment, particularly with ongoing implementation
of larger infrastructure projects, is expected to boost growth in 2017 and beyond. However, uncertainty in the business
environment, combined with stalling private-sector credit growth, could hinder private-sector investment.