Economy Overview
Botswana has maintained one of the world's highest economic 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 $9,200 in 2004. 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 is 23.8%, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the second highest in the world and threaten Botswana's impressive economic gains. An expected leveling off in diamond mining production overshadow long-term prospects.
Agriculture Products
livestock, sorghum, maize, millet, beans, sunflowers, groundnuts
Industries
diamonds, copper, nickel, salt, soda ash, potash; livestock processing; textiles
Industrial Production Growth Rate
4.4% (2004 est.)
Labor Force
264,000 formal sector employees (2000)
Electricity production
930 million kWh (2002)
Electricity Consumption
1.89 billion kWh (2002)
Electricity Exports
0 kWh (2002)
Electricity Imports
1.025 billion kWh (2002)
Unemployment Rate
23.8% (2004 est.)
Population Below Poverty Line
47% (2002 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: NA
Highest 10%: NA
Budget
Revenues: $3.735 billion
Expenditures: $3.743 billion, including capital expenditures of NA (2004 est.)
Public Debt
8.6% of GDP (2004 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
$5.7 billion (2004 est.)
Debt External
$531 million (2004 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
pulas per US dollar - 4.6929 (2004), 4.9499 (2003), 6.3278 (2002), 5.8412 (2001), 5.1018 (2000)
