Home Tech Tanzania Records A 32% Increase In Their GDP

Tanzania Records A 32% Increase In Their GDP

Tanzania Records A 32% Increase In Their GDP
Business Graph with arrow and coins showing profits and gains
Tanzania’s economy is on the escalator as it has grown by 32 percent, thanks to new and developing sectors such as the mobile phone revolution in the country as well as the main earners like farming, mining and tourism.

The state-run National Bureau of Statistics said the east African country’s GDP stood at 69.8 trillion Tanzanian shillings ($41.33 billion) in 2013 after the rebasing, up from a previous estimate of 53 trillion shillings.

This GDP calculation were changed to 2007 from 2001. The Finance Minister, Saada Mkuya said: “The rebasing of the GDP takes into account new transformations in the economy, such as the on going mobile phone revolution in the country.”

Apart form the Mobile Phone Revolution, the East African country has also made natural gas discoveries which is expected to increase the GDP come 2020′ along side other traditional sectors like communication and financial services.