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: root vegetables, beef, vegetables, sorghum, maize, game meat, milk, watermelons, goat milk, sunflower seeds (2023).
More about the economy of Botswana
| Labor force | 1.173 million (2024 est.) |
|---|---|
| Industrial production growth rate | -13.5% (2024 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 | 19.6% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | pulas (BWP) per US dollar - |
| Exchange rates 2024 | 13.563 (2024 est.) |
| 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.) |
| Debt - external | |
| Debt - external 2023 | $1.761 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $3.456 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $4.756 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $4.279 billion (2022 est.) |
| Current account balance | |
| Current account balance 2023 | -$116.727 million (2023 est.) |
| Current account balance 2022 | -$232.122 million (2022 est.) |
| Current account balance 2021 | -$314.583 million (2021 est.) |
| Public debt | |
| Public debt 2020 | 19.6% of GDP (2020 est.) |
| Budget | |
| Revenues | $5.474 billion (2024 est.) |
| Expenditures | $6.296 billion (2024 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.4% of GDP (2023 est.) |
| Remittances 2022 | 0.3% of GDP (2022 est.) |
| Remittances 2021 | 0.3% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 1.4% (2015 est.) |
| Highest 10% | 42.9% (2015 est.) |
| Imports | |
| Imports 2023 | $7.228 billion (2023 est.) |
| Imports 2022 | $8.826 billion (2022 est.) |
| Imports 2021 | $9.25 billion (2021 est.) |
| Imports (partners) | South Africa 65%, Namibia 8%, Canada 5%, China 3%, India 3% (2023) |
| Comodities Imports force | refined petroleum, diamonds, cars, flavored water, electricity (2023) |
| Exports | |
| Imports 2023 | $7.228 billion (2023 est.) |
| Imports 2022 | $8.826 billion (2022 est.) |
| Imports 2021 | $9.25 billion (2021 est.) |
| Exports (partners) | UAE 27%, India 17%, Belgium 16%, South Africa 8%, USA 7% (2023) |
| Comodities Exports force | diamonds, copper ore, insulated wire, carbonates, cattle (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $45.553 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $46.957 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $45.498 billion (2022 est.) |
| GDP (official exchange rate) | $19.401 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $18,100 (2024 est.) |
| Real GDP per capita 2023 | $18,900 (2023 est.) |
| Real GDP per capita 2022 | $18,600 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 1.7% (2024 est.) |
| Industry | 29.4% (2024 est.) |
| Services | 63.5% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 45.3% (2024 est.) |
| Government consumption | 32.1% (2024 est.) |
| Investment in fixed capital | 28.5% (2024 est.) |
| Investment in inventories | 7.7% (2024 est.) |
| Exports of goods and services | 26% (2024 est.) |
| Imports of goods and services | -40.9% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 23.2% (2024 est.) |
| Unemployment rate 2023 | 23.4% (2023 est.) |
| Unemployment rate 2022 | 23.7% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 43.9% (2024 est.) |
| Male | 39.8% (2024 est.) |
| Female | 48.6% (2024 est.) |
All Important Facts about Botswana
Want to know more about Botswana? Check all different factbooks for Botswana below.
