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 31 December 2017 | $2.187 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $2.421 billion (31 December 2016 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 | $3.828 billion (2020 est.) |
| Expenditures | $6.006 billion (2020 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 | 1.8% (2017 est.) |
| Industry | 27.5% (2017 est.) |
| Services | 70.6% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 48.5% (2017 est.) |
| Government consumption | 18.4% (2017 est.) |
| Investment in fixed capital | 29% (2017 est.) |
| Investment in inventories | -1.8% (2017 est.) |
| Exports of goods and services | 39.8% (2017 est.) |
| Imports of goods and services | -33.9% (2017 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
Want to know more about Botswana? Check all different factbooks for Botswana below.
