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Botswana Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Botswana Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Until the global recession, Botswana maintained one of the world's highest economic growth rates since independence in 1966. Diamond mining fueled much of the economic expansion and currently accounts for one-quarter of GDP, approximately 85% of export earnings, and about one-third of the government's revenues. Tourism is the secondary earner of foreign exchange and many Batswana engage in tourism-related services, subsistence farming, and cattle rearing. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of approximately $18,100 in 2017. Botswana also ranks as one of the least corrupt and best places to do business in sub-Saharan Africa.Botswana's economy closely follows global economic trends because of its heavy reliance on a single luxury export. According to official government statistics, unemployment is around 20%, but unofficial estimates run much higher. De Beers, a major international diamond company, signed a 10-year deal with Botswana in 2012 and moved its rough stone sorting and trading division from London to Gaborone in 2013. The move was geared to support the development of Botswana's nascent downstream diamond industry.Botswana’s economy recovered from the 2008 global recession in 2010, but has only grown modestly since then, primarily due to the downturn in the global diamond market, though water and power shortages also played a role. The prevalence of HIV/AIDS is second highest in the world and threatens the country's impressive economic gains. Diamond exports increased again in 2017 to the highest levels since 2013 at about 22 million carats of output, driving Botswana’s economic growth of about 4.5% in 2017 and increasing foreign reserves to about 45% of GDP.

GDP (purchasing power parity):
$39.55 billion (2017 est.) $37.86 billion (2016 est.) $36.3 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 120

GDP (official exchange rate):
$16.73 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.5% (2017 est.) 4.3% (2016 est.) -1.7% (2015 est.)
country comparison to the world: 51
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$18,100 (2017 est.) $17,600 (2016 est.) $17,000 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 96

Gross national saving:
29.5% of GDP (2017 est.) 42.1% of GDP (2016 est.) 40.5% of GDP (2015 est.)
country comparison to the world: 26
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 46.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17.7%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 30.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -10%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 54.1%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -39.3% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 29.2%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 69.1% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
livestock, sorghum, maize, millet, beans, sunflowers, groundnuts

Industries:
diamonds, copper, nickel, salt, soda ash, potash, coal, iron ore, silver; beef processing; textiles

Industrial production growth rate:
3% (2017 est.)
country comparison to the world: 98
[see also: Industrial production growth rate country ranks ]

Labor force:
1.177 million (2017 est.)
country comparison to the world: 141
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: NA%
[see also: Labor force - by occupation - industry country ranks ]
services: NA%
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
20% (2013 est.) 17.8% (2009 est.)
country comparison to the world: 183
[see also: Unemployment rate country ranks ]

Population below poverty line:
30.3% (2003 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Distribution of family income - Gini index:
60.5 (2009) 63 (1993)
country comparison to the world: 6
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $5.609 billion
[see also: Budget - revenues country ranks ]
expenditures: $6.072 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
33.5% of GDP (2017 est.)
country comparison to the world: 64
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.8% of GDP (2017 est.)
country comparison to the world: 108
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
18.5% of GDP (2017 est.) 18.1% of GDP (2016 est.)
country comparison to the world: 190
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
3.7% (2017 est.) 2.8% (2016 est.)
country comparison to the world: 145
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5.5% (31 December 2016) 6% (31 December 2015)
country comparison to the world: 75
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6.5% (31 December 2017 est.) 7.3% (31 December 2016 est.)
country comparison to the world: 123
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.574 billion (31 December 2017 est.) $1.505 billion (31 December 2016 est.)
country comparison to the world: 141
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$6.893 billion (31 December 2017 est.) $6.689 billion (31 December 2016 est.)
country comparison to the world: 119
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$2.859 billion (31 December 2017 est.) $2.597 billion (31 December 2016 est.)
country comparison to the world: 141
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$4.588 billion (31 December 2012 est.) $4.107 billion (31 December 2011 est.) $4.076 billion (31 December 2010 est.)
country comparison to the world: 88
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$746 million (2017 est.) $1.824 billion (2016 est.)
country comparison to the world: 42
[see also: Current account balance country ranks ]

Exports:
$7.58 billion (2017 est.) $7.226 billion (2016 est.)
country comparison to the world: 99
[see also: Exports country ranks ]

Exports - commodities:
diamonds, copper, nickel, soda ash, beef, textiles

Exports - partners:
Belgium 18.9%, India 15.1%, South Africa 13.6%, Namibia 11.6%, UAE 9.7%, Israel 6.1%, Singapore 5.6%, Canada 5% (2016)

Imports:
$5.998 billion (2017 est.) $5.906 billion (2016 est.)
country comparison to the world: 115
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products

Imports - partners:
South Africa 64.5%, Namibia 10.5%, Canada 5.6% (2016)

Reserves of foreign exchange and gold:
$7.476 billion (31 December 2017 est.) $7.189 billion (31 December 2016 est.)
country comparison to the world: 82
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$2.461 billion (31 December 2017 est.) $2.421 billion (31 December 2016 est.)
country comparison to the world: 149
[see also: Debt - external country ranks ]

Exchange rates:
pulas (BWP) per US dollar - 10.19 (2017 est.) 10.9022 (2016 est.) 10.9022 (2015 est.) 10.1263 (2014 est.) 8.9761 (2013 est.)


NOTE: 1) The information regarding Botswana on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Botswana Economy 2018 information contained here. All suggestions for corrections of any errors about Botswana Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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