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, and turned sharply negative in 2009, with industry falling nearly 30%. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $13,100 in 2010. 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, 70-80% of export earnings, and about half of the government's revenues. Botswana's heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. Although unemployment was 7.5% in 2007 according to official reports, unofficial estimates place it closer to 40%. The prevalence of HIV/AIDS is second highest in the world and threatens Botswana's impressive economic gains. An expected leveling off in diamond mining production within the next two decades overshadows long-term prospects.
Agriculture Products
livestock, sorghum, maize, millet, beans, sunflowers, groundnuts
Industries
diamonds, copper, nickel, salt, soda ash, potash, coal, iron ore, silver; livestock processing; textiles
Industrial Production Growth Rate
7.9% (2010 est.)country comparison to the world: 46
Labor Force
1.225 million formal sector employees (2009 est.)country comparison to the world: 138
Electricity production
593 million kWh (2008 est.)country comparison to the world: 157
Electricity Consumption
2.85 billion kWh (2008 est.)country comparison to the world: 129
Electricity Exports
0 kWh (2009 est.)
Electricity Imports
1.959 billion kWh (2009 est.)
Unemployment Rate
7.5% (2007 est.)country comparison to the world: 80
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: 5
Budget
Revenues: $4.656 billion
Expenditures: $5.638 billion (2010 est.)
Public Debt
19.9% of GDP (2010 est.)country comparison to the world: 110 17.6% of GDP (2009 est.)
Central Bank Discount Rate
9.5% (31 December 2010 est.)country comparison to the world: 31 10% (31 December 2009 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$1.438 billion (31 December 2010 est.)country comparison to the world: 129 $1.065 billion (31 December 2009 est.)
Stock of Broad Money
$6.654 billion (31 December 2010 est.)country comparison to the world: 115 $5.802 billion (31 December 2009 est.)
Stock of Domestic Credit
$1.466 billion (31 December 2010 est.)country comparison to the world: 139 $122.6 million (31 December 2009 est.)
Market Value of Publicly Traded Shares
$4.076 billion (31 December 2010)country comparison to the world: 88 $3.991 billion (31 December 2009)$3.556 billion (31 December 2008)
Reserves of Foreign Exchange and Gold
$7.885 billion (31 December 2010 est.)country comparison to the world: 75 $8.704 billion (31 December 2009 est.)
Debt External
$2.499 billion (31 December 2010 est.)country comparison to the world: 135 $1.617 billion (31 December 2009 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
pulas (BWP) per US dollar -6.7413 (2010)7.1551 (2009)6.7907 (2008)6.2035 (2007)5.8447 (2006)
