Tanzania GDP per Capita – Purchasing Power Parity, 1990 – 2020

Tanzania GDP per Capita – Purchasing Power Parity, 1990 – 2020

Tanzania’s Purchasing Power Parity, GDP [gross domestic product] per capita from 1990 to 2020: We have statistics for Tanzania as from 1990 through 2020 for this indicator. Tanzania had an average value of $1809.88 US over that time period, with a low of $1286.49 US in 1994 and a high of $2660.64 US in 2019. The most recent Tanzania GDP per Capita value as of 2020 is $2635.36 USD. The global average in 2020, calculated on 183 nations, is $20203.67 USD. Use the national comparability chart to compare trends and patterns over time or look at the world ratings for that indicator.

Recent Values Related to Tanzania GDP per Capita

A More Extensive Historical Series

The GDP [Gross Domestic Product] divided by the entire population is used to determine GDP [Gross Domestic Product] per capita in the United Republic of Tanzania as well as other nations.

We present Tanzania GDP per Capita in terms of PPP [Purchasing Power Parity], which means we measure GDP per capita in various nations using US prices. PPP is a valuable indicator for comparing income between countries.

It enables us to provide answers to the following inquiry: ‘What items can the average individual in some nation buy at US prices?’

Furthermore, we employ fixed prices. We may evaluate Tanzania GDP per capita through time by using only one year’s prices, which eliminates the influence of inflation. Otherwise, it’s unclear if the rise in Gross Domestic Product is due to price hikes or increased production.

The GDP [Gross Domestic Product] per capita varies significantly between countries. It surpasses $35,000 per year in developed economies. It is below $1000 USD per year in some of the world’s poorest countries.

Tanzania - GDP per capita, Purchasing Power Parity, 1990 - 2020
Tanzania – GDP per capita, Purchasing Power Parity, 1990 – 2020

Definition

GDP [gross domestic product] calculated using PPP [purchasing power parity]. The purchasing power parity GDP is GDP translated to international currency using PPP [purchasing power parity] rates. A foreign currency has the same purchase power in terms of GDP that the US dollar does in the US. GDP at buyer’s prices equals the total sum of the gross value generated by all the resident manufacturers in the economy added with any commodity taxes and subtract any subsidies that are not contained in the product value. It is evaluated without regard for depreciation of manufactured assets or depletion and deterioration of mineral wealth. The data are given in constant 2011 global dollars.

For more articles related to the Economy of Tanzania click here!


LEAVE A REPLY

Please enter your comment!
Please enter your name here