Economy Overview
Botswana has maintained one of the world's highest growth rates since independence in 1966. 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 $8,800 in 2003. 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 nine-tenths of export earnings. Tourism, 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 is 21%, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the highest in the world and threaten Botswana's impressive economic gains. Long-term prospects are overshadowed by the expected leveling off in diamond mining production.
Agriculture Products
livestock, sorghum, maize, millet, beans, sunflowers, groundnuts
Industries
diamonds, copper, nickel, salt, soda ash, potash; livestock processing; textiles
Industrial Production Growth Rate
7.3% (2003 est.)
Labor Force
264,000 formal sector employees (2000)
Electricity production
409.8 million kWh (2001)
Electricity Consumption
1.564 billion kWh (2001)
Electricity Exports
0 kWh (2001)
Electricity Imports
1.183 billion kWh (2001)
Unemployment Rate
40% (official rate is 21%) (2001 est.)
Population Below Poverty Line
47% (2002 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: NA
Highest 10%: NA
Budget
Revenues: $3.263 billion
Expenditures: $3.283 billion, including capital expenditures of NA (2003)
Public Debt
7% of GDP (2003)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$392 million (2003)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
pulas per US dollar - 4.9499 (2003), 6.3278 (2002), 5.8412 (2001), 5.1018 (2000), 4.6244 (1999)
