Tanzania Country Overview


Tanzania Country Overview

In 1964, the sovereign republics of Zanzibar and Tanganyika merged to form the United Republic of Tanzania. Tanzania covers 947,300 square kilometers, with 54,337 square kilometers of inland water. Pemba Island is 984 km2 in size, while Zanzibar Island is 1,657 km2. Tanzania is one of East Africa’s five countries, located south of the equator.

Tanzania’s mainland is sandwiched between the Tanganyika region, the Victoria and Nyasa Great Lakes, and the Indian Ocean. It is bordered by eight countries: Uganda, Burundi, Kenya, Rwanda, Zambia, Malawi, the Democratic Republic of the Congo, and Mozambique. It has a coastline of about 1,400 kilometers. Tanzania gives natural access to the region because six of these countries are landlocked.

Tanzania’s GDP increased at an average of 6.4 percent each year from 2006 to 2014.

This is a fantastic track record for growth. It has consistently placed among the world’s top 20 fastest-growing economies, outpacing the Sub-Saharan African average of 5.2 percent. Overall, the picture hints to a bright future, with per capita income rising at a rate of 7% on average, increasing consumption. The trade imbalance notifies potential investors that the European Union (EU), the United States of America, and South Africa, to name a few, all have significant potential to explore and utilize existing duty-free market opportunities. Over a ten-year period, exports increased by nearly 90%, while imports increased by 70%.