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The economy of Tanzania is a lower-middle income economy [23][24] that is centered around Manufacturing, Tourism, Agriculture, and financial services. [25] Tanzania 's economy has been transitioning from a planned economy to a market economy since 1985. Although total GDP has increased since these reforms began, GDP per capita dropped sharply ...
The capital of the country and economic centre of Tanzania, Dodoma (population 410,956) [214] is located in central Tanzania, and hosts the National Assembly. At the time of the foundation of the United Republic of Tanzania in 1964, the child mortality rate was 335 deaths per 1,000 live births.
Agriculture is the main part of Tanzania's economy. [1] As of 2016, Tanzania had over 44 million hectares of arable land with only 33 percent of this amount in cultivation. [citation needed] Almost 70 percent of the rich population live in rural areas, [2] and almost all of them are involved in the farming sector. [3]
Regions (2011 borders) by GDP in 2018 according to data by the National Bureau of Statistics (Tanzania). [ 1 ] TSh. 763/139 per Int. dollar based on PPP (IMF Apr. 2019) [ 2 ]
Mining industry of Tanzania. Tanzania is a land rich in minerals. Mining makes up more than 50% of the country's total exports, of which a large part comes from gold. The country has gold reserves of 10 million ounces, generating revenue of over a billion USD. [1] Diamonds are also found in significant amounts.
Tanzania and the International Monetary Fund. Tanzania is a member of the International Monetary Fund (IMF) with a current quota of US$551.35 million (397.8 million SDR ), [1] and is a part of the South Africa and Nigeria led constituency with a totaling voting share of 2.97%. [2] The IMF has been involved in Tanzania's economy since the 1970s.
Location of Tanzania. Tanzania has the second largest economy in the East African Community and the tenth largest in Africa.It is largely dependent on agriculture for employment, accounting for about half of the employed workforce. [1]
Economic indicators subsequently picked up, with growth averaging 6.0–7.8% per year between 2001 and 2014. Though still high, donor funding dropped substantially between 2007 and 2012. As the economy becomes less reliant on donor funding, it may gradually diversify. [1]