Bussines in Tanzania
In 2007 the services sector (trade and repairs, hotels and restaurants, transport, communications, finance, real estate and business services,
public administration, education, health, social and personal services) grew by 8.1 per cent compared to 7.8 per cent in 2006. All areas saw strong
growth with communications and financial services recording the highest rates of 20.1 per cent and 10.2 per cent, respectively.
The communications sector has been boosted by mobile communication services. New financial sector reforms and the associated growth of banking
and microfinance have stimulated the financial services sector. The growth of the services sector is estimated at 8.4 per cent in 2008 and forecast
to remain above 8 per cent in 2009.Due to its fast growth in recent years, the services sector has replaced agriculture as the leading sector in
the Tanzanian economy, accounting for 45.6 per cent of GDP in 2007.
Investment remained strong in 2008 with a 30 per cent increase in public capital formation and a 16 per cent increase in private capital formation.
Private consumption rose by 8 per cent and contributed 5.5 percentage points to the 6.8 per cent overall increase in GDP. The external sector's
contribution to growth was negative in 2008; import growth outstripped the increase in real exports by a wide margin.
Over the medium term, gross capital formation is expected to rise due to public investment in infrastructure and energy. International financial
conditions could, however, limit the growth of domestic private investment if the financial sector is threatened. The rate of gross capital
formation is forecasted to slow sharply in 2009 but is expected to rise to 10 per cent in 2010. Export growth is expected to slow to less than
1 per cent in 2009 before rebounding to 3.4 per cent by 2010. Though import demand will slow in 2009, it is expected to remain high over the
medium term mainly due to imports of intermediate and capital goods to support the growing service, industrial and construction sectors.
How's the business in Tanzania?
Tanzania Business comments
It's not bad place for do business!
John , Tanzania, London
It's bad to business over here. corrupted oficials and polices following us everytime to get some from us.
Fiona , Tanzania
HIII I WILL GO TANZANIA CAN YOU PLEASE ABOUT THE TRADE INFORM ME THANKS
ASFHA , ERITREA
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etekuoaba , Upernavik
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