According to the World Bank (WB), the value of Tanzania's GDP at current prices reached USD 75.5 billion in 2022.
The GDP per capita (current USD) was USD 1,192.4 in 2022.
The GDP of Tanzania expanded by 4.6% in 2022, up from 4.3% in 2021.
Similarly, according to the IMF, the real GDP growth of Tanzania in 2022 was +4.7%.
Tanzania’s annual GDP growth rate of 2022 beat that of Sub-Saharan Africa with an average GDP growth rate of +4.2% during the same period.
However, the GDP growth rate of Tanzania has been slowing down in recent years, from a peak of +7.9% in 2011.
The GDP per capita rose by 1.4% in 2022 and the international poverty rate dropped marginally by 0.3% points.
In April 2021, Tanzania’s new president Samia Suluhu Hassan gave her first speech to the parliament, mentioning the priorities of the Sixth Phase Government in the next five years to reach a GDP growth rate of at least 8% yearly.
Tanzania GDP in 2023, 2024, and 2025
The WB projects Tanzania's GDP growth to reach 5.1% in 2023–about 2.2% per capita–as investment increases and external terms of trade improve.
An improving business climate and the implementation of structural reforms are expected to boost annual GDP growth to 5.6% in 2024, 6.0% in 2025, and 6.4% in 2026.
Similarly, according to the International Monetary Fund (IMF) World Economic Outlook of October 2023, the real GDP growth of Tanzania in 2022 was 4.7% % in 2022, and it is projected to be 5.2% in 2023, and 6.1% and 7.0% in 2024 and 2025 respectively.
On the same line, the Central Bank of Tanzania (BOT), in its Monetary Policy Committee Meeting Statement, issued in February 2024, estimates that the country's GDP growth reached 5% in 2023. It also forecasts a GDP growth of 5.5% in 2024.
For its part, the African Development Bank (AfDB) in its African Economic Outlook Report 2024,) projects that Tanzania's real GDP growth will reach 5.7% in 2024 and 6% in 2025, driven by agriculture, manufacturing, and tourism and supported by public investments and reforms to improve the business environment.
Tanzania's Gross National Income (GNI)
According to the WB , Tanzania's GNI (current USD) was USD 76.81 billion 75.94 billion in 2024, from USD 77.55 billion in 2023.
The WB classifies Tanzania as a lower middle-income economy with a GNI per capita (current USD) of USD 1,200 in 2024 against an average of USD 1,513 in Sub-Saharan Africa.
Last Updated: 1st June 2025
Sources: African Development Bank (AfDB), Bank of Tanzania (BoT), International Monetary Fund (IMF), Tanzania National Bureau of Statistics, World Bank (WB).
Want to know more about GDP in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers GDP, plus key sectors and investment opportunities. The complete 141-page edition includes policies, taxation, key regulations, full macroeconomic data, and sources.
The Central Bank of Tanzania forecasts GDP to growth 6.3% in 2026 and 6.6% in 2027, supported by public and private Investments and exports. In its latest Monetary Policy Statement for 2026/27, the Bank stresses that the main activities expected to drive the growth are agriculture, mining, tourism, and construction. Inflation is forecast to increase but remain within the target range of 3-5%.
The Tanzania Private Sector Federation (TPSF) and the Confederation of Tanzania Industries (CTI) welcomed several business and tax reforms in Tanzania's 2026/27 Budget, including faster VAT refunds, investment incentives, and regulatory simplification. However, private sector leaders said economic growth will need to accelerate from the targeted 6.3% in 2026 to more than 10% annually to achieve the Tanzania Development Vision 2050 goal of becoming a USD 1 trillion economy.
Tanzania's 2026/27 budget is set at TZS 62.33 trillion (USD 24 billion), up 10.3% from the previous financial year, targeting 6.3% GDP growth with 74.2% financed from domestic revenue as grants fall 39.1%. Key investor measures include halving the deemed profit-distribution tax from 30% to 15%, a one-year income tax holiday for newly registered businesses, retained VAT deferment on imported capital goods, and VAT exemptions across compressed natural gas, electric vehicle charging equipment, and LPG infrastructure.
The AfDB African Economic Outlook 2026 estimates that Tanzania's GDP grew 6.0% in 2025, driven by agriculture, mining, and construction, with inflation contained at 3.3% and private-sector credit expanding by 20.3%. Growth is projected at 5.4% in 2026 and 6.1% in 2027, with inflation rising to 3.8% but remaining within the central bank’s target, and Tanzania ranking third in Africa for private infrastructure investment closures, with FDI in natural resources rising from 38% to 58.9%.
The IMF has reached a staff-level agreement with Tanzania on the final reviews of the ECF and RSF, unlocking USD 375.5 million in financing and bringing total support to USD 1,615 million. Tanzania's growth is projected at 5.9% in 2026, with inflation at 4.7%, the current account deficit at 2.9% of GDP, and medium-term growth potential of 6.3%.
The Bank of Tanzania (BOT) recently released its Monetary Policy Report of April 2026, in which it indicates that the Monetary Policy Committee (MPC) decided to keep the Central Bank Rate (CBR) at 5.75% in Q2 2026. The decision reflects a cautious policy stance aimed at balancing the risks to inflation and economic growth outlook, in the face of the current unprecedented geopolitical tensions in the Middle East.
Fitch reaffirmed Tanzania’s credit rating at B+ with a stable outlook, citing strong GDP growth of 6% and declining public debt. The agency highlighted external risks, low reserves, and ongoing reforms supported by IMF programmes.
According to the PwC 2026 CEO Survey, Tanzanian CEOs project strong revenue growth over the next three years, yet worry they are not transforming fast enough to keep pace with technological change and AI. Geopolitical conflict (22%) and macroeconomic volatility (20%) complete the top three threats.
Tanzania’s economic performance in 2025 recorded real GDP growth of 6.4% in Q3, stable inflation at 3.6%, and strong private sector credit expansion of 23.5%, while lending rates moderated to 15.24%. Exports of goods and services rose by 10.2%, led by gold exports increasing 37.4% to about USD 4.7 billion, while international tourist arrivals reached 2.29 million.
UNCTAD’s World Economic Situation and Prospects 2026 projects GDP growth at 5.8% in 2026 and 5.3% in 2027, supported by robust domestic demand, improved macroeconomic stability, IMF-backed reforms, strong agricultural output, and favourable gold prices, while inflation is projected to decline to 2.8%. This contrasts with a global growth outlook of 2.7% in 2026 amid trade tensions, fiscal pressures, and subdued investment.
February 2, 2026
Want to know more about investing in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers the economy, key sectors and investment opportunities.
The complete 141-page edition includes policies, taxation, key regulations, full macroeconomic data, and sources.
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