Tanzania Economic Outlook
November 12, 2019
The economy grew 7.2% year-on-year in the second quarter, marking the fastest expansion in over a year and up from the previous quarter’s 6.6% rise. A stronger jump in construction activity, coupled with a quicker expansion of manufacturing output compared to Q1, led the pick-up. Turning to the third quarter, incoming data is mixed. In the year ending September, the current account deficit widened notably as imports of capital and intermediate goods soared amid the government’s ongoing infrastructure projects. That said, exports of goods and services rose in the same period on stronger sales of gold and manufactured goods. Moreover, bank lending to the agricultural, building and construction, and mining and quarrying sectors soared in Q3, which should have stimulated business activity.Tanzania Economic Growth
Although growth is seen softening next year, it will remain solid. On the domestic side, resilient household consumption, robust government spending and sturdy investment growth should underpin the expansion, while a pick-up in export growth will further support the economy. Uncertainty with regard to the government’s policy direction poses a risk to the outlook, however. FocusEconomics panelists expect GDP to expand 5.8% in 2020, which is unchanged from last month’s estimate. In 2021, growth is seen largely stable at 5.9%.Tanzania Economy Data
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Tanzania Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 15.29 | 0.0 % | Sep 04 |
| Exchange Rate | 2,298 | 0.0 % | Sep 04 |
| Stock Market | 1.0 | 0.0 % | Sep 04 |
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