DAR ES SALAAM – Tanzania’s gross domestic product (GDP) per capita increased to US$1 090 in 2018, the Minister for Finance and Planning, Phillip Mpango, has told parliament.
In his state of the national economy presentation, Mpango said the GDP per capita grew by 4.4 percent in 2018, from US$1 044 in 2017.
Tanzania officially joined a group of lower Middle Income Countries in 2017 when its GDP per capita crossed the US$1 000 mark.
Mpango said Tanzania’s economy grew by seven percent last year, becoming the second fastest in East Africa after Rwanda.
The minister said Tanzania’s economic growth was largely aided by five sectors, including arts and entertainment, construction, transport and logistics, professional undertakings, science and vocational activities as well as information and communication.
Agriculture, which constitutes 28.2 percent share of the overall economy in 2018 grew by 5.3 percent, added Mpango.