Natural Resources of Tanzania

Tanzania has a very diverse makeup of natural resources. Tanzania's natural resources consists of precious metals such Tin, Diamonds, Gold, Gem Stones, Nickel, Uranium, and Natural Gas. The country also sports a vast wealth of other resources such as a large timber industry, fish, and Oil. The discovery and utilization of these resources have developed over time. Lake Victoria has an abundance of fishing that helps Tanzania trade with its neighbors such as Rwanda, Burundi, and Kenya. Initially the fishing of Lake Victoria was just used for the people's own consumption, but gradually the export of fish and the lake's resources was soon to be a valuable tool in trade with other nations.

The precious minerals that Tanzania possesses is of significant trade value to the outside world. Mining accounts for 5% of Tanzania's GDP and 33% of their exports. These exports have increased drastically in the last decade due to increased yields and technological improvements. Gold for example is a major export of the nation, it is the 3 largest exporter of gold in all of Africa. The abundance of gold is what helped draw the Europeans and the Arabs to Africa. The utilization of this particular resource has evolved over time, originally for artistic use and trading of trinkets, to be exploited by Arabs and Europeans, to being a lifeline for trade in Tanzania.

Trading partners for Tanzania include India, Japan, Germany, and China. The growth of economic sector stemming from these natural resources has helped the GDP grow at an average of 6-7% over the last ten years. The last quarter of 2015 shows a high of 943 million earned from Tanzanian exports. These exports have influenced trade routes over the region, typically with their trading partners list above, and that of regional trade partners geographically. Kenya, Rwanda, Burundi, and Kenya are the natural border trading partners with Tanzania and these resources help bring economic good tidings to the region. The value of Lake Victoria can not be underscored as it essentially links 4 countries together economically and geographically.


Resources

"Tanzania Exports 2006-2016". Accessed April 12, 2016. http://www.tradingeconomics.com/tanzania/exports

 "Tanzania." Natural Resource Governance Institute. 2015. Accessed April 12, 2016. http://www.resourcegovernance.org/our-work/country/tanzania.

"The World Factbook: Tanzania." Central Intelligence Agency. 2016. Accessed April 12, 2016. https://www.cia.gov/library/publications/the-world-factbook/geos/tz.html.