Economy Overview
Agriculture still provides a livelihood for more than 80% of the population but supplies only about 50% of food needs and accounts for only 3% of GDP. Subsistence farming and cattle raising predominate. The sector is plagued by erratic rainfall and poor soils. Diamond mining and tourism also are important to the economy. Substantial mineral deposits were found in the 1970s and the mining sector grew from 25% of GDP in 1980 to 38% in 1998. Unemployment officially is 21% but unofficial estimates place it closer to 40%. The Orapa 2000 project, which will double the capacity of the country's main diamond mine, will be finished in early 2000. This will be the main force behind continued economic expansion.
Agriculture Products
sorghum, corn, millet, pulses, groundnuts (peanuts), beans, cowpeas, sunflower seed; livestock
Industries
diamonds, copper, nickel, coal, salt, soda ash, potash; livestock processing
Industrial Production Growth Rate
4.6% (FY92/93)
Labor Force
235,000 formal sector employees (1995)
Electricity production
1 billion kWh (1998)
Electricity production by source
Fossil fuel: 100%
Hydro: 0%
Nuclear: 0%
Other: 0% (1998)
Electricity Consumption
1.619 billion kWh (1998)
Electricity Exports
0 kWh (1998)
Electricity Imports
689 million kWh (1998)
Currency
1 pula (P) = 100 thebe
Unemployment Rate
20%-40% (1999 est.)
Population Below Poverty Line
47% (1999 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $1.6 billion
Expenditures: $1.8 billion, including capital expenditures of $560 million (FY96/97)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$651 million (1998)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
pulas (P) per US$1 - 4.6168 (January 2000), 4.6244 (1999), 4.2259 (1998), 3.6508 (1997), 3.3242 (1996), 2.7722 (1995)
