| People | Botswana |
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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. |
GDP (purchasing power parity):
|
$24.14 billion (2007 est.) |
GDP (official exchange rate):
|
$11.35 billion (2007 est.) |
GDP - real growth rate:
|
4.7% (2007 est.) |
GDP - per capita (PPP):
|
$14,700 (2007 est.) |
GDP - composition by sector:
|
agriculture: 1.6%
industry: 51.5% (including 36% mining)
services: 46.9% (2006 est.) |
Investment (gross fixed):
|
19.5% of GDP (2007 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):
|
7.2% (2007 est.) |
Labor force:
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288,400 formal sector employees (2004) |
Labor force participation rate:
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15.65 % of population |
Labor force - by occupation:
|
agriculture: NA%
industry: NA%
services: NA% |
Unemployment rate:
|
23.8% (2004) |
Budget:
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revenues: $4.886 billion
expenditures: $3.756 billion (2007 est.) |
Budget revenues per capita:
|
2,653 USD per capita |
Public debt:
|
6.4% of GDP (2007 est.) |
Industries:
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diamonds, copper, nickel, salt, soda ash, potash; livestock processing; textiles |
Industrial production growth rate:
|
4.5% (2007 est.) |
Electricity - production:
|
912 million kWh (2005) |
Electricity - production per capita:
|
496 kWh per capita |
Electricity - consumption:
|
2.602 billion kWh (2005) |
Electricity - consumption - per capita:
|
1,413 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
1.754 billion kWh (2005) |
Oil - production:
|
0 bbl/day (2005) |
Oil - production per capita:
|
void |
Oil - consumption:
|
12,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
2.38 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2004) |
Oil - imports:
|
13,490 bbl/day (2004) |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
livestock, sorghum, maize, millet, beans, sunflowers, groundnuts |
Current account balance:
|
$2.231 billion (2007 est.) |
Current account balance - per capita:
|
1,211 USD per capita |
Exports:
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$4.798 billion f.o.b. (2007 est.) |
Exports per capita:
|
2,605 USD per capita |
Exports - commodities:
|
diamonds, copper, nickel, soda ash, meat, textiles |
Exports - partners:
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European Free Trade Association (EFTA) 87%, Southern African Customs Union (SACU) 7%, Zimbabwe 4% (2006) |
Imports:
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$2.766 billion f.o.b. (2007 est.) |
Imports per capita:
|
1,502 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:
|
Southern African Customs Union (SACU) 74%, EFTA 17%, Zimbabwe 4% (2006) |
Reserves of foreign exchange and gold:
|
$9.629 billion (31 December 2007 est.) |
Reserves of foreign exchange and gold - per capita:
|
5,227 USD per capita |
Debt - external:
|
$513 million (31 December 2007 est.) |
Debt - external - per capita:
|
279 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$3.947 billion (2006) |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$70.89 million (2005) |
Economic aid - recipient per capita:
|
39 USD per capita |
Currency (code):
|
pula (BWP) |
Exchange rates:
|
pulas per US dollar - 6.2035 (2007), 5.8447 (2006), 5.1104 (2005), 4.6929 (2004), 4.9499 (2003) |
Fiscal year:
|
1 April - 31 March |
|
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