Tanzania Economic Outlook
April 16, 2019
The economy expanded at a solid pace last year (2018: +7.0%; 2017: +6.8%), propelled by solid consumer spending amid robust credit growth and declining inflation; growing tourist inflows; and a strong infrastructure push, which spurred construction activity. On the flip side, strong domestic demand fueled imports, which, along with dwindling traditional exports, translated into a notable widening of the current account deficit. Economic momentum likely remained robust in Q1 2019, although seems to have softened from the previous quarter. Available data shows that credit continued to flow steadily in January-February. However, the current account deficit widened in the year ending February due to lower exports and higher imports—owing to the government’s infrastructure push.Tanzania Economic Growth
Growth is set to ease this year but will remain robust nonetheless. Consumer spending will continue to benefit from rising wages and solid credit growth, while fixed investment is sustained by solid infrastructure spending and mining investment. That said, the current account deficit will remain sizable, while unpredictable policymaking could discourage FDI inflows. FocusEconomics panelists expect GDP to expand 6.3% in 2019, which is unchanged from last month, and 6.3% again in 2020.Tanzania Economy Data
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Tanzania Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 2,300 | 0.0 % | May 13 |
| Stock Market | 0.1 | 0.0 % | May 13 |
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