Current Account in Tanzania

Tanzania Current Account | Economic News & Forecasts

Tanzania - Current Account

Economic activity was likely resilient in the third quarter. The production of gold—the country’s main export—increased robustly in the quarter, while credit growth expanded solidly in the year ending September. However, the current account deficit widened notably in annual terms in the same period, mainly due to soaring imports of capital goods. In its latest financial system stability assessment in early December, the IMF encouraged the country to strengthen the capital buffers of the banking system, burdened by a high stock of bad loans. Meanwhile, in the international arena, the government has faced increasing criticism over minority rights abuses: The EU is reviewing its diplomatic relations with the country, while in mid-November the World Bank put a loan for an education project on hold.

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 Rate2,3050.0 %Jan 16
Stock Market0.10.0 %Jan 16

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