Botswana

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Introduction - Botswana:
Location - Botswana:
People - Botswana:
Government - Botswana:
Economy - Botswana:

Economy overview

Botswana has maintained one of the worlds highest economic growth rates since independence in 1966, though growth slowed to 4.7% in 2006. Through fiscal discipline and sound management, Botswana has transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of more than $11,000 in 2006. Two major investment services rank Botswana as the best credit risk in Africa. Diamond mining has fueled much of the expansion and currently accounts for more than one-third of GDP and for 70-80% of export earnings. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. On the downside, the government must deal with high rates of unemployment and poverty. Unemployment officially was 23.8% in 2004, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the second highest in the world and threaten Botswanas impressive economic gains. An expected leveling off in diamond mining production overshadows long-term prospects.

Gdp purchasing power parity

$17.94 billion (2006 est.)

Gdp official exchange rate

$9.761 billion (2006 est.)

Gdp real growth rate

5.4% (2006 est.)

Gdp per capita ppp

$10,900 (2006 est.)

Gdp composition by sector

agriculture: 2.4%
industry: 46.9% (including 36% mining)
services: 50.7% (2003 est.)

Labor force

288,400 formal sector employees (2004)

Labor force by occupation

agriculture: NA%
industry: NA%
services: NA%

Unemployment rate

23.8% (2004)

Population below poverty line

30.3% (2003)

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Distribution of family income gini index

63 (1993)

Inflation rate consumer prices

11.4% (2006 est.)

Investment gross fixed

21.8% of GDP (2006 est.)

Budget

revenues: $4.256 billion
expenditures: $3.968 billion; including capital expenditures of $NA (2006 est.)

Public debt

7.1% of GDP (2006 est.)

Agriculture products

livestock, sorghum, maize, millet, beans, sunflowers, groundnuts

Industries

diamonds, copper, nickel, salt, soda ash, potash; livestock processing; textiles

Industrial production growth rate

6.3% (2006 est.)

Electricity production

823 million kWh (2004)

Electricity consumption

2.464 billion kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

1.699 billion kWh (2004)

Oil production

0 bbl/day (2004)

Oil consumption

11,500 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

13,490 bbl/day (2004)

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Current account balance

$1.698 billion (2006 est.)

Exports

$4.836 billion f.o.b. (2006 est.)

Exports commodities

diamonds, copper, nickel, soda ash, meat, textiles

Exports partners

European Free Trade Association (EFTA) 87%, Southern African Customs Union (SACU) 7%, Zimbabwe 4% (2006)

Imports

$3.034 billion f.o.b. (2006 est.)

Imports commodities

foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products

Imports partners

Southern African Customs Union (SACU) 74%, EFTA 17%, Zimbabwe 4% (2006)

Reserves of foreign exchange and gold

$7.445 billion (2006 est.)

Debt external

$520 million (2006 est.)

Economic aid recipient

$73 million (1995)

Currency code

pula (BWP)

Exchange rates

pulas per US dollar - 5.8447 (2006), 5.1104 (2005), 4.6929 (2004), 4.9499 (2003), 6.3278 (2002)

Communications - Botswana:
Transportation - Botswana:
Military - Botswana:
This page was last updated on 16 September, 2007
Source: CIA >>>


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