Tanzania’s Quarterly Gross Domestic Product (QGDP) increased to 45.2trn/- during Q2, 2022 from 39.9trn/- recorded during the similar quarter last year according to the latest data from the National Bureau of Statistics (NBS).
Further, the value of QGDP at 2015 prices also increased to 34.9trn/- in Q2, 2022 from 33.3trn/- recorded during the similar period in 2021.
According to NBS, primary activities accounted for the largest share (39.5 per cent) in the Q2 GDP 2022, followed by Tertiary activities (36.9 per cent) and Secondary activities (23.6 percent).
During the period under review, Accommodation and Food services recorded the highest growth of 13.0 per cent, followed by Finance and Insurance ( 9.9 per cent);Water supply (9.5 per cent), Information and Communication (9.2 per cent);Electricity supply (8.7 per cent), Other Services (7.5 per cent), Public Administration (6.7 per cent) and Mining and Quarrying (5.8 per cent).
“All economic activities undertaken in the economy in the reference period contributed to the growth of 4.8 per cent compared to 3.8 percent recorded in the similar period in 2021,” the report said.
Economic activities with significant contribution to growth include: Agriculture (14.9 per cent), Construction (13.1 per cent), Transport and Storage (8.4 per cent); Wholesale and Retail trade (7.8 per cent); Manufacturing (7.6 per cent), Financial and Insurance (6.9 per cent); Mining and Quarrying (5.6 per cent), and Public Administration (4.4 percent).
The report noted that Tanzania’s agriculture sector during Q2, 2022 grew by 3.0 per cent as compared to 2.2 recorded in the similar quarter in 2021.
“The sector growth is on account of favourable weather in areas of the production during the onset of the long rain season that attributed to the growth recorded,” the report said.
The Mining and Quarrying sector growth rate however slowed to 5.8 per cent inQ2, 2022 compared to a growth rate of 9.4 percent recorded during the similar quarter in 2021.
“The growth was attributable to an increase in production of Diamond, Silver, Coal and Natural Gas,” added.
During the period under review, diamond production increased to 71,054 carats in the second quarter in 2022 from 5,126 carats realized in the corresponding quarter in 2021, coal increased to 537,563 tons in second quarter in 2022 compared to 247,770 tons in the correspondence quarter in 2021.
The manufacturing sector also expanded by 4.7 per cent in Q2, 2022 compared to 4.5 per cent recorded during the similar quarter in 2021 with the growth rate attributed to a general increase in the production of industrial goods.