Current Account in Tanzania

Tanzania Current Account | Economic News & Forecasts

Tanzania - Current Account

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 - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-11.4  -10.0  -8.4  -4.6  -     

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Tanzania Current Account Chart

Tanzania Current Account
Note: Current account balance as % of GDP.
Source: Bank of Tanzania

Tanzania Facts

Exchange Rate2,3000.0 %May 13
Stock Market0.10.0 %May 13

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