Economy - overview Botswana has maintained one of the world's highest growth rates since independence in 1966. 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 $7,800 in 2001. Two major investment services rank Botswana as the best credit risk in Africa. Diamond mining has fueled much of expansion and currently accounts for more than one-third of GDP and for four-fifths of export earnings. Tourism, 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 is 21%, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the highest in the world and threaten Botswana's impressive economic gains.

GDP purchasing power parity - $12.4 billion (2001 est.)

GDP - real growth rate 4.7% (2001 est.)

GDP - per capita purchasing power parity - $7,800 (2001 est.)

GDP - composition by sector
agriculture: 4%
industry: 44% (including 36% mining)
services: 52% (2000 est.)

Population below poverty line 47% (2000 est.)

Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices) 6.6% (2001 est.)

Labor force 264,000 formal sector employees (2000)

Labor force - by occupation NA

Unemployment rate 40% (official rate is 21%) (2001 est.)

Budget
revenues: $2.3 billion
expenditures: $2.4 billion, including capital expenditures of $NA (FY01/02)

Industries diamonds, copper, nickel, salt, soda ash, potash; livestock processing; textiles

Industrial production growth rate 2.4% (2001 est.)

Electricity - production 500 million kWh (2000)

Electricity - production by source
fossil fuel: 100%
hydro: 0%
other: 0% (2000)
nuclear: 0%

Electricity - consumption 1.451 billion kWh (2000)

Electricity - exports 0 kWh (2000)

Electricity - imports 986 million kWh (2000)

Agriculture - products livestock, sorghum, maize, millet, beans, sunflowers, groundnuts

Exports $2.5 billion (f.o.b., 2001 est.)

Exports - commodities diamonds 80%, copper, nickel, soda ash, meat, textiles (2001)

Exports - partners EFTA 85%, Southern African Customs Union (SACU) 10%, Zimbabwe 2% (1999)

Imports $2.1 billion (f.o.b., 2001 est.)

Imports - commodities foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products (2000)

Imports - partners Southern African Customs Union (SACU) 77%, EFTA 9%, Zimbabwe 4% (1999)

Debt - external $325 million (2001)

Economic aid - recipient $73 million (1995)

Currency pula (BWP)

Currency code BWP

Exchange rates pulas per US dollar - 6.8353 (January 2002), 5.8412 (2001), 5.1018 (2000), 4.6244 (1999), 4.2259 (1998), 3.6508 (1997)

Fiscal year 1 April - 31 March

NOTE: The information regarding Botswana on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Botswana Economy 2002 information contained here. All suggestions for corrections of any errors about Botswana Economy 2002 should be addressed to the CIA.