Botswana Economy: from the All Country Info reference guide to country facts

Botswana Economy

Botswana Economy: A summary of information about Botswana Economy, from government research data as well as independent research and other sources.

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Botswana: Economy

Economy - overview
Agriculture still provides a livelihood for more
than 80% of the population but supplies only about 50% of food needs
and accounts for only 3% of GDP. Subsistence farming and cattle
raising predominate. The sector is plagued by erratic rainfall and
poor soils. Diamond mining and tourism also are important to the
economy. Substantial mineral deposits were found in the 1970s and the
mining sector grew from 25% of GDP in 1980 to 38% in 1998.
Unemployment officially is 21% but unofficial estimates place it
closer to 40%. The Orapa 2000 project, which will double the capacity
of the country's main diamond mine, will be finished in early 2000.
This will be the main force behind continued economic expansion.
GDP
purchasing power parity - $5.7 billion (1999 est.)
GDP - real growth rate
6.5% (1999 est.)
GDP - per capita
purchasing power parity - $3,900 (1999 est.)
GDP - composition by sector
agriculture: 4%
industry: 46% (including 36% mining)
services: 50% (1998 est.)
Population below poverty line
47% (1999 est.)
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
7.7% (1999 est.)
Labor force
235,000 formal sector employees (1995)
Labor force - by occupation
100,000 public sector; 135,000 private
sector, including 14,300 who are employed in various mines in South
Africa; most others engaged in cattle raising and subsistence
agriculture (1995 est.)
Unemployment rate
20%-40% (1999 est.)
Budget
revenues: $1.6 billion
expenditures: $1.8 billion, including capital expenditures of $560
million (FY96/97)
Industries
diamonds, copper, nickel, coal, salt, soda ash, potash;
livestock processing
Industrial production growth rate
4.6% (FY92/93)
Electricity - production
1 billion kWh (1998)
Electricity - production by source
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
1.619 billion kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
689 million kWh (1998)
Agriculture - products
sorghum, corn, millet, pulses, groundnuts
(peanuts), beans, cowpeas, sunflower seed; livestock
Exports
$2.36 billion (f.o.b., 1999 est.)
Exports - commodities
diamonds 72%, vehicles, copper, nickel, meat
(1998)
Exports - partners
EU 74%, Southern African Customs Union (SACU) 21%,
Zimbabwe 3% (1996)
Imports
$2.05 billion (f.o.b., 1999 est.)
Imports - commodities
foodstuffs, machinery and transport equipment,
textiles, petroleum products
Imports - partners
Southern African Customs Union (SACU) 78%, Europe
8%, Zimbabwe 6% (1996)
Debt - external
$651 million (1998)
Economic aid - recipient
$73 million (1995)
Currency
1 pula (P) = 100 thebe
Exchange rates
pulas (P) per US$1 - 4.6168 (January 2000), 4.6244
(1999), 4.2259 (1998), 3.6508 (1997), 3.3242 (1996), 2.7722 (1995)
Fiscal year
1 April - 31 March
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