| Economy | Botswana |
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Economy - overview:
|
Botswana has maintained one of the world's highest economic growth rates since independence in 1966. However, economic growth was negative in 2009, with the industrial sector shrinking by 30 %, after the global crisis reduced demand for Botswana's diamonds. The economy has since recovered, with GDP growth in 2010 at 7.2 % and estimated GDP growth in 2011 of 6.2 %. 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 $16,300 in 2011. 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. |
GDP (purchasing power parity):
|
$30.09 billion (2011 est.)
$28.36 billion (2010 est.)
$26.42 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$16,300 (2011 est.)
$15,500 (2010 est.)
$14,600 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$16.4 billion (2011 est.) |
GDP - real growth rate:
|
6.2% (2011 est.)
7.2% (2010 est.)
-4.9% (2009 est.) |
GDP - composition by sector:
|
agriculture: 2.1%
industry: 45%
services: 52.9% (2011 est.) |
Investment (gross fixed):
|
26.6% of GDP (2011 est.) |
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) |
Inflation rate (consumer prices):
|
7.8% (2011 est.)
7% (2010 est.) |
Central bank discount rate:
|
9.5% (31 December 2010 est.)
10% (31 December 2009 est.) |
Commercial bank prime lending rate:
|
11.3% (31 December 2011 est.)
11.46% (31 December 2010 est.) |
Stock of money:
|
$1.008 billion (31 December 2008)
$1.026 billion (31 December 2007) |
Stock of money - per capita:
|
489 USD per capita |
Stock of quasi money:
|
$4.183 billion (31 December 2008)
$4.336 billion (31 December 2007) |
Stock of quasi money - per capita:
|
2,026 USD per capita |
Stock of domestic credit:
|
$1.792 billion (31 December 2011 est.)
$1.466 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
868 USD per capita |
Stock of narrow money:
|
$1.622 billion (31 December 2011 est.)
$1.438 billion (31 December 2010 est.) |
Stock of broad money:
|
$7.598 billion (31 December 2011 est.)
$6.654 billion (31 December 2010 est.) |
Labor force:
|
1.225 million formal sector employees (2009 est.) |
Labor force participation rate:
|
59.31 % of population |
Labor force - by occupation:
|
agriculture: NA%
industry: NA%
services: NA% |
Unemployment rate:
|
7.5% (2007 est.) |
Unemployment, youth ages 15-24:
|
void |
Budget:
|
revenues: $5.134 billion
expenditures: $6.128 billion (2011 est.) |
Budget revenues per capita:
|
2,486 USD per capita |
Taxes and other revenues:
|
31.3% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-6.1% of GDP (2011 est.) |
Public debt:
|
20.3% of GDP (2011 est.)
19.9% of GDP (2010 est.) |
Industries:
|
diamonds, copper, nickel, salt, soda ash, potash, coal, iron ore, silver; livestock processing; textiles |
Industrial production growth rate:
|
8% (2011 est.) |
Electricity - production:
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593 million kWh (2008 est.) |
Electricity - production per capita:
|
288 kWh per capita |
Electricity - consumption:
|
2.85 billion kWh (2008 est.) |
Electricity - consumption - per capita:
|
1,380 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
1.959 billion kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
15,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
2.65 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
15,590 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
livestock, sorghum, maize, millet, beans, sunflowers, groundnuts |
Current account balance:
|
-$467.9 million (2011 est.)
-$753.6 million (2010 est.) |
Current account balance - per capita:
|
-226 USD per capita |
Exports:
|
$5.509 billion (2011 est.)
$4.591 billion (2010 est.) |
Exports per capita:
|
2,668 USD per capita |
Exports - commodities:
|
diamonds, copper, nickel, soda ash, meat, textiles |
Exports - partners:
|
void |
Imports:
|
$5.426 billion (2011 est.)
$4.767 billion (2010 est.) |
Imports per capita:
|
2,628 USD per capita |
Imports - commodities:
|
foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products |
Imports - partners:
|
void |
Reserves of foreign exchange and gold:
|
$8.516 billion (31 December 2011 est.)
$7.885 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
4,124 USD per capita |
Debt - external:
|
$2.684 billion (31 December 2011 est.)
$2.499 billion (31 December 2010 est.) |
Debt - external - per capita:
|
1,300 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$4.076 billion (31 December 2010)
$3.991 billion (31 December 2009)
$3.556 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
|
1,974 USD per capita |
Currency (code):
|
pula (BWP) |
Exchange rates:
|
pulas (BWP) per US dollar -
6.695 (2011 est.)
6.7936 (2010 est.)
7.1551 (2009)
6.7907 (2008)
6.2035 (2007) |
Fiscal year:
|
1 April - 31 March |
|
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