Tanzania is an East African country known for its vast wilderness areas. They include the plains of Serengeti National Park, a safari mecca populated by the “big five” game (elephant, lion, leopard, buffalo, rhino), and Kilimanjaro National Park, home to Africa’s highest mountain. Offshore lie the tropical islands of Zanzibar, with Arabic influences, and Mafia, with a marine park home to whale sharks and coral reefs.
The economic outlook is positive, with real GDP projected to grow 4.1% in 2021 and 5.8% in 2022, due to improved performance of the tourism sector and the reopening of trade corridors. Energy and fuel price increases are expected to persist in 2021, raising overall inflation to 3.9% in 2021 and 3.4% in 2022. Spending on large infrastructure projects and depressed revenue performance are expected to widen the fiscal deficit to 3.2% of GDP in both 2021 and 2022, financed mainly by external borrowing. The current account deficit is projected to grow to 3.9% of GDP in 2021, due to the lingering effects of COVID–19 on merchandise exports and increased imports of capital goods for large infrastructure projects. It is expected to narrow to 3.3% of GDP in 2022. The major downside risks to the outlook include business regulatory bottlenecks that constrain private sector activity and uncertainties regarding the pandemic. Poverty and unemployment are expected to remain high due to depressed private sector activity.
Mining contributed 3.3 percent of GDP in 2013. The vast majority of the country’s mineral export revenue comes from gold, accounting for 89 percent of the value of those exports in 2013. It also exports sizable quantities of gemstones, including diamonds and tanzanite. All of Tanzania’s coal production, which totalled 106,000 short tons in 2012, is used domestically.
Other minerals exploited in Tanzania include:
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