Tanzania post 5.2 percent economic growth in Quarter 3

By The Citizen Reporter

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Dar es Salaam. The latest economic growth report by the National Bureau of Statistics (NBS) for the third quarter of 2021 (July and September) shows Tanzania’s

Gross Domestic Product (GDP) rebounded to 5.2 percent from 4.4 percent recorded in the second quarter.

According to the figures, Q3 GDP increased to Sh32 trillion in 2021 from Sh30.3 trillion in 2020.

Some of the key factors that buoyed the national economy as highlighted in the report include tourism which saw an increase of tourists visiting the country in Quarter 3 to 243,565 compared to 72,147 tourists in the corresponding period in 2020, construction has contributed about 18.1 percent of the growth followed by agriculture which stood at 15.1 percent .

Other East African countries also registered positive GDP results following a contraction in Quarter 2. Rwanda has recorded growth of about 10.1 percent from negative growth of 3.6 percent, whereas Kenya recorded growth of 9.9 percent  from negative growth of 2.1 in quarter two of 2021.

Tanzania is projected to maintain positive growth in Q4 stemming from the continued economic recovery efforts in different sectors.