Africa Agriculture Economy Tanzania

Tanzania’s GDP per capita increases in 2018

Tanzania’s gross domestic product (GDP) per capita increased to 1,090 U.S. dollars in 2018, the Minister for Finance and Planning, Phillip Mpango, told parliament on Thursday.

In his state of the national economy presentation, Mpango said the GDP per capita grew by 4.4 percent in 2018, from 1,044 U.S. dollars in 2017.

Tanzania officially joined a group of lower Middle Income Countries in 2017 when its GDP per capita crossed the 1,000 U.S. dollars mark.

Mpango said Tanzania’s economy grew by 7 percent last year, becoming the second fastest in East Africa after Rwanda.

The minister said Tanzania’s economic growth was largely aided by five sectors, including arts and entertainment, construction, transport and logistics, professional undertakings, science and vocational activities as well as information and communication.

Agriculture, which constitutes 28.2 percent share of the overall economy in 2018 grew by 5.3 percent, added Mpango.

Source: Xinhuanet

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