Tanzania is categorized under the developing countries of the world. One of the least developed countries in the world,
Tanzania economy is mainly based on agricultural activities. Substantial efforts are being undertaken by the
Tanzania government to improve the
economic condition of the country by increasing foreign trade. Investments from both private and public sector are welcome in
Tanzania.
Agriculture is the primary
economic activity of Tanzania, which provides employment to 80 percent people in the country. Sixty percent GDP is contributed through agriculture in
Tanzania economy. Three fourths of foreign exchange in is earned through agricultural activities. The country grows both food crops as well as cash crops. Food crops in Tanzania include rice, wheat, potatoes, sorghum, maize, beans and cassava. Among the vital cash crops of Tanzania are coffee, tea, tobacco, cashew nuts, cloves, sisal, groundnuts, cardamoms, palm oil seeds and many more.
Fishing is also an important economic activity of Tanzania. Both marine as well as fresh water fish are available in plenty in the various islands and lakes of Tanzania. As fish is a perishable commodity, it is exported to the nearby areas and countries. Livestock population in Tanzania is great, but due to lack of packaging and preserving industries, export of animal products has become difficult in the country. Mining has become a popular and profitable industry in Tanzania earning huge foreign exchange.
Last but not the least, tourism, transport and communication and several small scale industries are playing an important part in boosting the
economy of Tanzania.
