Economy Overview
Botswana has maintained one of the world's highest economic growth rates since independence in 1966, though growth slowed to 4.7% annually in 2006-07. 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 nearly $15,000 in 2007. 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 Botswana's impressive economic gains. An expected leveling off in diamond mining production overshadows 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
4.2% (2007 est.)
Labor Force
288,400 formal sector employees (2004)
Electricity production
979 million kWh (2006 est.)
Electricity Consumption
2.574 billion kWh (2006 est.)
Electricity Exports
0 kWh (2007 est.)
Electricity Imports
1.959 billion kWh (2007 est.)
Unemployment Rate
7.5% (2007 est.)
Population Below Poverty Line
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Distribution of Family Income Gini Index
63 (1993)
Budget
Revenues: $4.741 billion
Expenditures: $3.816 billion (2007 est.)
Public Debt
5.4% of GDP (2007 est.)
Central Bank Discount Rate
14.5% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
NA
Market Value of Publicly Traded Shares
$3.947 billion (2006)
Reserves of Foreign Exchange and Gold
$9.79 billion (31 December 2007 est.)
Debt External
$408 million (31 December 2007 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
pulas (BWP) per US dollar - 6.2035 (2007), 5.8447 (2006), 5.1104 (2005), 4.6929 (2004), 4.9499 (2003)
