Tanzania economic growth driven by gold exports and rising credit

Tanzania is experiencing significant economic activity driven by rising exports and accelerating credit growth. In the year ending July 2026, exports of goods and services grew 16.5% to approximately USD 19.98 billion, led by a 37.4% increase in gold exports, which accounted for nearly half of all goods export earnings.

Bank financing is also expanding across several sectors. Credit to transport and communication grew by 66% in June, while mining and quarrying saw a 65.2% increase. Other notable growth areas include building and construction (38.9%) and agriculture (37.3%).

On a regional level, Tanzania and Malawi are working to strengthen bilateral trade through the 3rd Malawi-Tanzania Investment and Trade Forum. Officials are shifting focus from raw commodity exchange to joint value addition, specifically targeting the processing of Malawian soybeans by Tanzanian industry to create shared supply chains.