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Botswana:
Economy

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Economy - overview
Definition
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)
Definition - World rank and map
$25.68 billion (2007 est.)
GDP (official exchange rate)
Definition
$12.31 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
5.4% (2007 est.)
GDP - per capita
Definition - World rank and map
$16,400 (2007 est.)
GDP - composition by sector
Definition
agriculture: 1.6%
industry: 51.5% (including 36% mining)
services: 46.9% (2006 est.)
Labor force
Definition
288,400 formal sector employees (2004)
Labor force - by occupation
Definition
agriculture: NA%
industry: NA%
services: NA%
Unemployment rate
Definition - World rank and map
7.5% (2007 est.)
Population below poverty line
Definition
30.3% (2003)
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Distribution of family income - Gini index
Definition - World rank and map
63 (1993)
Inflation rate (consumer prices)
Definition - World rank and map
7.1% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
18.2% of GDP (2007 est.)
Budget
Definition
revenues: $4.741 billion
expenditures: $3.816 billion (2007 est.)
Public debt
Definition - World rank and map
5% of GDP (2007 est.)
Agriculture - products
Definition
livestock, sorghum, maize, millet, beans, sunflowers, groundnuts
Industries
Definition
diamonds, copper, nickel, salt, soda ash, potash; livestock processing; textiles
Industrial production growth rate
Definition - World rank and map
5% (2007 est.)
Electricity - production
Definition - World rank and map
912 million kWh (2005)
Electricity - consumption
Definition - World rank and map
2.602 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
1,412.4 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
1.754 billion kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005)
Oil - consumption
Definition - World rank and map
12,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
6.5 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
13,490 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
$2.074 billion (2007 est.)
Exports
Definition - World rank and map
$5.025 billion f.o.b. (2007 est.)
Exports - commodities
Definition
diamonds, copper, nickel, soda ash, meat, textiles
Exports - partners
Definition
European Free Trade Association (EFTA) 87%, Southern African Customs Union (SACU) 7%, Zimbabwe 4% (2006)
Imports
Definition - World rank and map
$3.403 billion f.o.b. (2007 est.)
Imports - commodities
Definition
foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products
Imports - partners
Definition
Southern African Customs Union (SACU) 74%, EFTA 17%, Zimbabwe 4% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$9.79 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$408 million (31 December 2007 est.)
Market value of publicly traded shares
Definition
$3.947 billion (2006)
Economic aid - recipient
Definition
$70.89 million (2005)
Currency (code)
Definition
pula (BWP)
Exchange rates
Definition
pulas per US dollar - 6.2035 (2007), 5.8447 (2006), 5.1104 (2005), 4.6929 (2004), 4.9499 (2003)
Fiscal year
Definition
1 April - 31 March


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