Economy Overview
Botswana has maintained one of the world's highest economic growth rates since independence in 1966, though growth fell below 5% in 2007-08. 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 $13,300 in 2008. 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
-2.4% (2008 est.)country comparison to the world: 158
Labor Force
685,300 formal sector employees (2007)country comparison to the world: 146
Electricity production
1.052 billion kWh (2007 est.)country comparison to the world: 144
Electricity Consumption
2.648 billion kWh (2007 est.)country comparison to the world: 130
Electricity Exports
0 kWh (2008 est.)
Electricity Imports
2.181 billion kWh (2008 est.)
Unemployment Rate
7.5% (2007 est.)country comparison to the world: 96
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)country comparison to the world: 4
Budget
Revenues: $4.326 billion
Expenditures: $4.808 billion (2008 est.)
Public Debt
5.9% of GDP (2008 est.)country comparison to the world: 118 8.6% of GDP (2004 est.)
Central Bank Discount Rate
15% (31 December 2008)country comparison to the world: 17 14.5% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Domestic Credit
$NA (31 December 2008)$NA (31 December 2007)
Market Value of Publicly Traded Shares
$3.556 billion (31 December 2008)country comparison to the world: 82 $5.887 billion (31 December 2007)$3.947 billion (31 December 2006)
Reserves of Foreign Exchange and Gold
$9.119 billion (31 December 2008 est.)country comparison to the world: 68 $9.79 billion (31 December 2007 est.)
Debt External
$409 million (31 December 2008 est.)country comparison to the world: 168 $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 - 6.7907 (2008 est.), 6.2035 (2007), 5.8447 (2006), 5.1104 (2005), 4.6929 (2004)
