Tanzania GDP grew by Tsh3 trillion in Q3, 2016

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By Mnaku Mbani
Tanzania economy grew by Tsh3 trillion during the third quarter of last year  to TZS. 25.5 trillion compared to TZS. 22.7 trillion recorded in the corresponding quarter of 2015, the highlights for the third quarter of 2016 published by the National Bureau of Statistics has said.

According to the highlights, the Gross Domestic Product at constant prices for the third quarter of 2016 in absolute terms was TZS. 11.6 trillion compared to TZS. 10.8 trillion for the similar quarter of 2015.
The economy increased at lower rate of 6.2 percent in the third quarter of 2016 compared to 7.3 percent observed in the third quarter of 2015.
The performance of selected economic activities observed in the third quarter of 2016 shows that Mining and Quarrying increased at the highest growth rate of 19.9 percent followed by Water Supply  recorded the growth rate of 14.5 percent and Information and Communication increased at a growth rate of 14.3 percent.
However, Agriculture and Real Estate increased at low growth rates of 0.3 percent and 2.3 percent respectively. The overall growth rate was also attributed by significant increase in Transport and Storage (12.2 percent), generation of electricity (11.8 percent); and Financial and Insurance services (8.8 percent).
During the period under review,  Agriculture activity increased at a growth rate of 0.3 percent compared to a growth of 5.1 percent observed in the corresponding quarter of 2015.
The slow in growth rate was caused by unfavorable weather condition for agricultural production experienced in some production areas during the period.

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