• About Us
  • Contact
Thursday, March 30, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Economic

Tanzania’s GDP grows 5.4 pct in Q1 of 2022

by Editor
16/08/2022
in Economic
0
Tanzania’s GDP grows 5.4 pct in Q1 of 2022
Share on FacebookShare on Twitter

Tanzania’s Gross Domestic Product (GDP) increased from 33.1trn/- in Q4, 2021 to 34.9trn/- this year equivalent to a 5.4 per cent growth according to a new report by the National Bureau of Statistics (NBS).

All economic activities undertaken in the economy during the period of January to March 2022 accounted for the overall growth of 5.4 per cent compared to a growth of 5.0 per cent attained during a similar period last year.

According to the NBS report, primary activities accounted for 39.5 per cent to the GDP being the largest share followed by tertiary activities by 38.2 per cent and Secondary activities, which had the least share of 22.3 per cent. Photo / courtesy.

“Economic activities that significantly contributed to the growth include: Agriculture (19.6 per cent), Construction (14.1 per cent), Manufacturing (9.0 per cent), Construction (14.1 per cent), Manufacturing (9.0 per cent); Mining and Quarrying (7.1 per cent); Trade and Repair (6.7 per cent); and Finance and Insurance (6.4 per cent,” the report said.

According to the report, primary activities accounted for 39.5 per cent to the GDP being the largest share followed by tertiary activities by 38.2 per cent and Secondary activities, which had the least share of 22.3 per cent.

“Shares to GDP were derived before adjustment for taxes,” the report said.

During the period of January to March 2022, Water Supply and Sewerage Services attained the highest growth rate of 11.9 per cent followed by Finance and Insurance at 10.0 per cent.

The report however showed that countries in the East African Community (EAC) during the first quarter 2022 showed continuous economic recovery.

“Rwanda’s economy expanded to 7.9 per cent in 2022 up from 3.5 per cent in 2021, Uganda’s economy expanded to 5.9 per cent in 2022 up from 3.0 per cent in 2021 and Kenya’s economy increased to 6.8 per cent up from 2.7 per cent in 2021,” the report noted.

Tanzania mid this year revised its Real Gross Domestic Product growth rate for 2022 to 4.7 percent as the ongoing tension in Ukraine weighs in on the ongoing economic recovery.

The projection was lower than earlier estimates of 5.5 percent.

Editor

Editor

Next Post
Explore other available taxi service options, Latra says

Explore other available taxi service options, Latra says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Thu, 30 Mar.

Recommended

Equity group ranked the world’s 4th strongest banking brand

Equity group ranked the world’s 4th strongest banking brand

7 days ago
Tanzania ranked 6th in digital readiness in Africa, new report says

Tanzania ranked 6th in digital readiness in Africa, new report says

4 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili