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Botswana Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Botswana Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Until the beginning of the global recession in 2008, Botswana maintained one of the world's highest economic growth rates since its independence in 1966. Botswana recovered from the global recession in 2010, but only grew modestly until 2017, primarily due to a downturn in the global diamond market, though water and power shortages also played a role. Through fiscal discipline and sound management, Botswana has transformed itself from one of the poorest countries in the world five decades ago into 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.

Because of its heavy reliance on diamond exports, Botswana’s economy closely follows global price trends for that one commodity. Diamond mining fueled much of Botswana’s past economic expansion and currently accounts for one-quarter of GDP, approximately 85% of export earnings, and about one-third of the government's revenues. In 2017, Diamond exports increased to the highest levels since 2013 at about 22 million carats of output, driving Botswana’s economic growth to about 4.5% and increasing foreign exchange reserves to about 45% of GDP. 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.

Tourism is a secondary earner of foreign exchange and many Batswana engage in tourism-related services, subsistence farming, and cattle rearing. According to official government statistics, unemployment is around 20%, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens the country's impressive economic gains.

GDP (purchasing power parity):
$39.01 billion (2017 est.)
$38.11 billion (2016 est.)
$36.54 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 121
[see also: GDP country ranks ]

GDP (official exchange rate):
$17.38 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.4% (2017 est.)
4.3% (2016 est.)
-1.7% (2015 est.)
country comparison to the world: 137
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$17,000 (2017 est.)
$16,900 (2016 est.)
$16,500 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 101
[see also: GDP - per capita country ranks ]

Gross national saving:
40.3% of GDP (2017 est.)
38.8% of GDP (2016 est.)
41.2% of GDP (2015 est.)
country comparison to the world: 9
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 48.5% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18.4% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 29% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -1.8% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 39.8% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -33.9% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.8% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 27.5% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 70.6% (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:
-4.2% (2017 est.)
country comparison to the world: 193
[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: 185
[see also: Unemployment rate country ranks ]

Population below poverty line:
19.3% (2009 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
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
60.5 (2009)
63 (1993)
country comparison to the world: 5
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 5.305 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 5.478 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
30.5% (of GDP) (2017 est.)
country comparison to the world: 75
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1% (of GDP) (2017 est.)
country comparison to the world: 76
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
14% of GDP (2017 est.)
15.6% of GDP (2016 est.)
country comparison to the world: 195
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
3.3% (2017 est.)
2.8% (2016 est.)
country comparison to the world: 136
[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: 74
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6.88% (31 December 2017 est.)
7.3% (31 December 2016 est.)
country comparison to the world: 121
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.645 billion (31 December 2017 est.)
$1.494 billion (31 December 2016 est.)
country comparison to the world: 140
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.645 billion (31 December 2017 est.)
$1.494 billion (31 December 2016 est.)
country comparison to the world: 148
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.002 billion (31 December 2017 est.)
$2.579 billion (31 December 2016 est.)
country comparison to the world: 140
[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: 85
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$2.146 billion (2017 est.)
$2.147 billion (2016 est.)
country comparison to the world: 40
[see also: Current account balance country ranks ]

Exports:
$5.934 billion (2017 est.)
$7.226 billion (2016 est.)
country comparison to the world: 103
[see also: Exports country ranks ]

Exports - partners:
Belgium 20.3%, India 12.6%, UAE 12.4%, South Africa 11.9%, Singapore 8.7%, Israel 7%, Hong Kong 4.1%, Namibia 4.1% (2017)

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

Imports:
$5.005 billion (2017 est.)
$5.871 billion (2016 est.)
country comparison to the world: 128
[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 66.1%, Canada 8.3%, Israel 5.3% (2017)

Reserves of foreign exchange and gold:
$7.491 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:
$2.187 billion (31 December 2017 est.)
$2.421 billion (31 December 2016 est.)
country comparison to the world: 151
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$5.319 billion (31 December 2017 est.)
$5.699 billion (31 December 2016 est.)
country comparison to the world: 106
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$1.973 billion (31 December 2017 est.)
$1.312 billion (31 December 2016 est.)
country comparison to the world: 84
[see also: Stock of direct foreign investment - abroad 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 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Botswana Economy 2019 information contained here. All suggestions for corrections of any errors about Botswana Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They 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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