Background: Tanzania is sizable economy in East Africa with GDP of $46 billion and a population of 53 million people. The economy has a substantial natural resource base with gold and offshore natural gas now supplementing mining. The political landscape is generally stable with a pro-market government that has a large parliamentary majority. However, Tanzania is still a low-income country and poverty is major challenge for a large part of the population. The table below reflects the main areas of trade by product percentage in Tanzania (source: UNCTAD):
Geo-Economic Structure: Tanzania has maintained some strong reforms to reduce corruption and improve the levels of services to its populous. The country is also leveraging off its geographical position has its ranked 61st in the World Bank survey with regards to the quality of logistics, well above the average for Africa and neighbouring countries. East Africa is the main African channel of investment under the Chinese One Belt One Road strategy to develop new trade routes. The development of the offshore and onshore natural gas industry is a key strength that may result in the Tanzanian economy being double its size in the foreseeable future. The average GDP growth of 6.5% per annum has been great for the economy making it an interesting investment destination.
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