Botswana - Economy
How is the economy of Botswana? Based on the information we have, Botswana has a good economic governance and financial management; diamond-driven growth model declining; rapid poverty reductions; high unemployment, particularly among youth; COVID-19 sharply contracted the economy and recovery is slow; public sector wages have posed fiscal challenges. Key agricultural products in this country include: milk, root vegetables, vegetables, maize, sorghum, beef, game meat, watermelons, cabbages, goat milk (2022).
More about the economy of Botswana
Labor force 1.17 million (2023 est.)
Industrial production growth rate 2.25% (2023 est.)
Industries diamonds, copper, nickel, salt, soda ash, potash, coal, iron ore, silver; beef processing; textiles
Population below poverty line 16.1% (2015 est.)
Taxes and other revenues 19.65% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency pulas (BWP) per US dollar -
Exchange rates 2023 13.596 (2023 est.)
Exchange rates 2022 12.369 (2022 est.)
Exchange rates 2021 11.087 (2021 est.)
Exchange rates 2020 11.456 (2020 est.)
Exchange rates 2019 10.756 (2019 est.)
Debt - external
Debt - external 2022 $1.507 billion (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $4.756 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $4.279 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $4.802 billion (2021 est.)
Current account balance
Current account balance 2022 $606.394 million (2022 est.)
Current account balance 2021 -$250.118 million (2021 est.)
Current account balance 2020 -$1.531 billion (2020 est.)
Public debt
Public debt 2020 19.62% of GDP (2020 est.)
Budget
Revenues $5.989 billion (2022 est.)
Expenditures $5.099 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.31% of GDP (2023 est.)
Remittances 2022 0.34% of GDP (2022 est.)
Remittances 2021 0.32% of GDP (2021 est.)
Household income
Lowest 10% 1.5% (2015 est.)
Highest 10% 41.5% (2015 est.)
Imports
Imports 2022 $8.7 billion (2022 est.)
Imports 2021 $9.252 billion (2021 est.)
Imports 2020 $7.554 billion (2020 est.)
Imports (partners) South Africa 61%, Namibia 9%, Belgium 5%, India 4%, Canada 4% (2022)
Comodities Imports force diamonds, refined petroleum, trucks, raw sugar, plastic products (2022)
Exports
Imports 2022 $8.7 billion (2022 est.)
Imports 2021 $9.252 billion (2021 est.)
Imports 2020 $7.554 billion (2020 est.)
Exports (partners) UAE 27%, Belgium 18%, India 15%, South Africa 10%, Hong Kong 6% (2022)
Comodities Exports force diamonds, copper ore, insulated wire, coal, cattle (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $46.742 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $45.499 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $43.133 billion (2021 est.)
GDP (official exchange rate) $19.396 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $17,500 (2023 est.)
Real GDP per capita 2022 $17,300 (2022 est.)
Real GDP per capita 2021 $16,700 (2021 est.)
GDP - composition, by sector of origin
Agriculture 1.6% (2023 est.)
Industry 34.3% (2023 est.)
Services 59.4% (2023 est.)
GDP - composition, by end use
Household consumption 42.9% (2023 est.)
Government consumption 28.9% (2023 est.)
Investment in fixed capital 25.7% (2023 est.)
Investment in inventories 4.7% (2023 est.)
Exports of goods and services 31.7% (2023 est.)
Imports of goods and services -35.7% (2023 est.)
Unemployment rate
Unemployment rate 2023 23.38% (2023 est.)
Unemployment rate 2022 23.62% (2022 est.)
Unemployment rate 2021 23.11% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 45.4% (2023 est.)
Male 40.5% (2023 est.)
Female 51.5% (2023 est.)
All Important Facts about Botswana

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Botswana is found in Southern Africa