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Tanzania Grew 6.8% in Q3 2017

Tanzania Grew 6.8% in Q3 2017Tanzania Grew 6.8% in Q3 2017

Tanzania’s economic growth slowed to 6.8% during the third quarter of last year compared with 7.8% recorded during the second quarter of the same year, AllAfrica reported. Highlights published Thursday by the National Bureau of Statistics show that gross domestic product at 2007 constant price in absolute terms increased to Sh12.4 trillion ($5.6 billion), up from Sh11.6 trillion in the corresponding quarter in 2016. However, in absolute terms, the third-quarter GDP was lower than the Sh12.8 trillion recorded during the second quarter of last year. Economic activities, which increased at significant rates, were: mining and quarrying (20.8%); water supply (19.1%); information and communications (13.4%); transport and storage (13%) and manufacturing (12.4%). However, the GDP at current prices in absolute terms increased to Sh29.5 trillion, rising from the Sh25.4 trillion attained in the corresponding quarter of 2016. Agriculture value-added activity increased to Sh2.24 trillion in the third quarter of 2017, up from Sh2.16 trillion in 2016.

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