Dar es Salaam. Tanzania’s economy grew at 6.8 per cent in the third quarter of 2014 compared with 7.4 per cent recorded in the same period of 2013, the National Bureau of Statistics has announced.
Mr Morrice Oyuke, director of economic statistics, said yesterday that agriculture grew by 3.1 per cent compared with the speed of 3.4 per cent recorded previously.
The economy grew by 6.9 per cent in the second quarter.
“It’s the first GDP update we are releasing using the revised data in which we are now using 2007 as base year as opposed to the usual 2001 base year,” said Mr Oyuke.
The size of the East Africa’s second biggest economy after Kenya increased to Sh70 trillion ($41 billion) in 2013, up from a previous estimate of Sh53 trillion, after last year’s rebasing that factored its expanding industries such as oil, gas and telecommunications into the calculation, Finance Minister Saada Mkuya Salum said in December.
The revised GDP figures indicate that agriculture accounted for 31.7 per cent of Tanzania’s gross domestic product (GDP) in 2013, the highest share of all economic sectors.
The country produces natral gas for domestic use and has discovered 53.28 trillion cubic feet both onshore and offshore by last November.
Mining and quarry grew by 5.2 per cent during the third quarter of 2014 compared with 3.3 per cent the same quarter of 2013, Mr Oyuke announced.
Manufacturing grew by 10.8 per cent compared with 10.4 per cent previously while water supply grew by 12.7 per cent from 6.9 per cent.
Construction grew by 15 per cent compared with 16.3 per cent while transport slowed to 13.9 per cent from 19.3 per cent recorded the same quarter last year.
Financial services grew by 13.9 per cent compared with 6.8 per cent while information, communication and technology (ICT) services which also include telecommunications grew by 11.9 per cent against 7.0 per cent, Oyuke said. Source
No comments:
Post a Comment