Growth in the economy has decelerated since last year, but it nevertheless remains healthy. In the twelve months up through May, the current account deficit shrunk by almost half, although this was due to imports contracting more than exports. In the same period, however, external debt rose significantly. In Q1, the economy grew close to 6%, on the back of robust expansions in the manufacturing, construction and financial sectors and a surge in mining and quarrying. However, the performance of the all-important mining sector could be jeopardized by the government’s attempt to tighten control over the mining industry: the latest episode was the seizure in late August of a consignment of diamonds belonging to Petra Diamonds, with the government alleging the company had declared its mineral exports for less than they were worth.
Tanzania - GDP per capita (USD) Data
|GDP per capita (USD)