Overview: In 2018 Tanzania was the number 80 economy in the world in terms of GDP (current US$), the number 106 in total exports, the number 98 in total imports, and the number 84 most complex economy according to the Economic Complexity Index (ECI). In 2018, Tanzania exported $5.78B and imported $10.9B, resulting in a negative trade balance of -$5.08B. In 2018, Tanzania's exports per capita were $103 and its imports per capita were $193.
In 2018 Tanzania exported a total of $5.78B, making it the number 106 exporter in the world. During the last five reported years the exports of Tanzania have changed by $126M from $5.66B in 2013 to $5.78B in 2018.
In 2018 Tanzania imported $10.9B, making it the number 98 trade destination in the world. During the last five reported years the imports of Tanzania changed by -$2.69B from $13.6B in 2013 to $10.9B in 2018.
In 2018, Tanzania exported $4.01B worth of services. The top services exported by Tanzania in 2018 were Personal travel ($2.45B), Transportation ($1.23B), Other business services ($249M), Insurance services ($38.3M), and Computer and information services ($22.2M).
The top services imported by Tanzania in 2018 were Transportation ($844M), Personal travel ($738M), Other business services ($336M), Construction services ($63.1M), and Government services, n.i.e. ($62M).
This section shows forecasts for total product exports and imports for Tanzania. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Tanzania are:136: Most Favoured Nation duty rate treatement201: Preferential tariff for East African Community (EAC) (Kenya, Tanzani, Uganda, Rwanda, Burundi)302: Preferential tariff for South Africa347: Regional Preferential tariff for SADC countries
During the last 15 years Tanzania's economy has become relatively more complex, moving from the 100th to the 84th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Tanzania has a high level of specialization in Quicklime (261), Bran (129), Letter Stock (95.8), Raw Tobacco (93.1), and Coconut and Other Vegetable Fibers (66.4). Specialization is measured using RCA, an index that takes the ratio between Tanzania observed and expected exports in each product.
The top export opportunities for Tanzania according to the relatedness index, are Insect Resins (0.28), Palm Oil (0.27), Raw Sugar (0.26), Crude Petroleum (0.26), and Bananas (0.26). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Tanzania is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Tanzania
