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The country of Tanzania is termed as one of the poorest countries in the world and has been ranked 204 in the world in terms of GDP, however, has a real growth rate of 17 in the world, making it one of the top economically developing countries. Tanzania’s GDP reached 47.93 billion US dollars in 2014 and the average GDP per capita in Tanzania was 2500 US dollars. The country’s main GDP comes from services which make up 48% of their GDP, and the other GDP factors are the industry which is 25.2% and agriculture consists of 26.9%. The major agriculture products produced in this country are coffee, tea, cotton, fruits, vegetables, cattle, sheep, and goats. The major industrial aspects in this countries are agricultural processing of goods like sugar, beer, cigarettes, sisal twine, the production of goods like salt, soda, cement, oil, fertilizers, and also mining diamonds, gold, and iron. The country’s industrial production growth rate is 8.1% which places it 22nd rank in the world. The exports for the country are estimated to be around $6 billion which is ranked lower than most countries, at 110th rank, and the major exporting partners are India, China, Japan, and Germany. |