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EconomyEconomy - 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) World Ranking: 111
$30.09 billion (2011 est.)
$28.76 billion (2010 est.) $26.83 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$17.57 billion (2011 est.)
Gdp - real growth rate World Ranking: 78
4.6% (2011 est.)
7.2% (2010 est.) -4.9% (2009 est.) Gdp - per capita (ppp) World Ranking: 74
$16,200 (2011 est.)
$15,700 (2010 est.) $14,800 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 2.1%
Industry 45% Services 52.9% (2011 est.) Labor force World Ranking: 136
1.269 million
Note Formal sector employees (2011 est.) Labor force - by occupation
Agriculture NA%
Industry NA% Services NA% Unemployment rate World Ranking: 85
7.5% (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 World Ranking: 4
63 (1993)
Investment (gross fixed) World Ranking: 25
27.6% of GDP (2011 est.)
Budget
Revenues $5.614 billion
Expenditures $6.24 billion (2011 est.) Taxes and other revenues World Ranking: 81
32% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 117
-3.6% of GDP (2011 est.)
Public debt World Ranking: 126
14.5% of GDP (2011 est.)
14% of GDP (2010 est.) Inflation rate (consumer prices) World Ranking: 178
8.5% (2011 est.)
7% (2010 est.) Central bank discount rate World Ranking: 30
9.5% (31 December 2010 est.)
10% (31 December 2009 est.) Commercial bank prime lending rate World Ranking: 73
11% (31 December 2011 est.)
11.46% (31 December 2010 est.) Stock of narrow money World Ranking: 144
$1.153 billion (31 December 2011 est.) $1.438 billion (31 December 2010 est.) Stock of broad money World Ranking: 120
$5.948 billion (31 December 2011 est.) $6.654 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 136
$1.792 billion (31 December 2011 est.) $1.466 billion (31 December 2010 est.) Market value of publicly traded shares World Ranking: 86
$4.107 billion (31 December 2011) $4.076 billion (31 December 2010) $4.278 billion (31 December 2009) 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 World Ranking: 10
10.8% (2011 est.)
Electricity - production World Ranking: 155
593 million kWh (2008 est.)
Electricity - consumption World Ranking: 130
2.85 billion kWh (2008 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
1.959 billion kWh (2009 est.)
Oil - production World Ranking: 155
0 bbl/day (2010 est.)
Oil - consumption World Ranking: 139
15,000 bbl/day (2010 est.)
Oil - exports World Ranking: 138
0 bbl/day (2009 est.)
Oil - imports World Ranking: 126
15,590 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 110
0 bbl (1 January 2011 est.)
Natural gas - production World Ranking: 157
0 cu m (2009 est.)
Natural gas - consumption World Ranking: 155
0 cu m (2009 est.)
Natural gas - exports World Ranking: 66
0 cu m (2009 est.)
Natural gas - imports World Ranking: 160
0 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 155
0 cu m (1 January 2011 est.)
Current account balance World Ranking: 105
-$476.6 million (2011 est.)
-$753.6 million (2010 est.) Exports World Ranking: 108
$6.031 billion (2011 est.)
$4.591 billion (2010 est.) Exports - commodities
Diamonds, copper, nickel, soda ash, meat, textiles Imports World Ranking: 119
$6.211 billion (2011 est.)
$4.767 billion (2010 est.) Imports - commodities
Foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products Reserves of foreign exchange and gold World Ranking: 77
$8.674 billion (31 December 2011 est.) $7.885 billion (31 December 2010 est.) Debt - external World Ranking: 140
$1.973 billion (31 December 2011 est.) $1.709 billion (31 December 2010 est.) Exchange rates
Pulas (BWP) per US dollar -
6.8382 (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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Botswana (Gaborone):
 
GPS points from Botswana (Gaborone)
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Formerly the British protectorate of Bechuanaland, Botswana adopted its new name upon independence in 1966. Four decades of uninterrupted civilian leadership, progressive social policies, and significant capital investment have created one of the most dynamic economies in Africa. Mineral extraction, principally diamond mining, dominates economic activity, though tourism is a growing sector due to the country's conservation practices and extensive nature preserves. Botswana has one of the world's highest known rates of HIV/AIDS infection, but also one of Africa's most progressive and comprehensive programs for dealing with the disease.