Shortly after achieving independence from Britain in the early 1960s, Tanganyika and Zanzibar merged to form the United Republic of Tanzania in 1964. Tanzania has achieved high growth rates based on its vast natural resource wealth and tourism. GDP growth in 2009-14 averaged an impressive 6-7% per year. Tanzania has largely completed its transition to a market economy, though the government retains a presence in sectors such as telecommunications, banking, energy, and mining. The economy depends on agriculture, which accounts for more than one-quarter of GDP, provides 85% of exports, and employs about 80% of the work force. The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's aging infrastructure, including rail and port that provide important trade links. Recent banking reforms have helped increase private-sector growth and investment.
Resources include diamonds, gemstones, gold, coal, iron, nickel, forest product, domesticated livestock, wildlife, fishers and marine resources, natural gas and possibly oil. Primary exports in terms of value include gold and tobacco, while key imports are capital and consumer goods.
Tanzania’s main trading partners are China, India, the European Union (EU) and neighboring Southern African Development Community (SADC) and EAC countries. Tanzania’s exports to the United States are dominated by agricultural commodities , minerals and textiles while imports from the United States include wheat, agricultural and transport equipment, chemicals, used clothes and machinery.
Basic Econimic Statistics (2013/2014 figures):
The U.S. Commercial Service in Dar es Salaam is your eyes and ears in the local marketplace. We promote the export of U.S. goods and services and protect U.S. business interests in Tanzania. Our staff of Commercial Specialists provides export counseling, market research, trade contacts, and access to trade promotion opportunities and trade advocacy.
We deliver customized business solutions to ensure that U.S. businesses compete and win in the local marketplace.
If you are considering Tanzania as a potential export market, you've come to the right place to find the information and assistance you need to succeed!