Economy of Botswana
Masa Square Central Business District | |
| Currency | Pula (BWP, P) |
|---|---|
| 1 April – 31 March | |
Trade organisations | AU, AfCFTA (signed), SADC, SACU, WTO |
Country group |
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| Statistics | |
| Population | 2,630,296 (2022) |
| GDP | |
| GDP rank | |
GDP growth |
|
GDP per capita |
|
GDP per capita rank | |
GDP by sector |
|
| 4% (2024 est.) | |
Population below poverty line |
|
| 45.5 medium (2016) | |
| |
Labour force |
|
| Unemployment | 23.4% (2023) |
Main industries | diamonds, copper, nickel, salt, soda ash, potash, coal, iron ore, silver; beef processing; textiles |
| External | |
| Exports | $8.9 billion (2022 est.) |
Export goods | diamonds, copper, nickel, soda ash, beef, textiles |
Main export partners |
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| Imports | $8.7 billion (2022 est.) |
Import goods | foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products |
Main import partners |
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FDI stock |
|
| $606.394 million (2022 est.) | |
Gross external debt | $2.187 billion (31 December 2017 est.) |
| Public finances | |
| 19.62% of GDP (2022 est.) | |
| $4.279 billion (2022 est.) | |
| −1% (of GDP) (2017 est.) | |
| Revenues | 5.305 billion (2017 est.) |
| Expenses | 5.478 billion (2017 est.) |
| Economic aid | $96.43 million (2021) |
BBB+ (2021) | |
All values, unless otherwise stated, are in US dollars. | |
The economy of Botswana is currently one of the world's fastest growing economies, averaging about 5% per annum over the past decade. Growth in private sector employment averaged about 10% per annum during the first 30 years of the country's independence. After a period of stagnation at the turn of the 21st century, Botswana's economy registered strong levels of growth, with GDP growth exceeding 6–7% targets. Botswana has been praised by the African Development Bank for sustaining one of the world's longest economic booms. Economic growth since the late 1960s has been on par with some of Asia's largest economies. The government has consistently maintained budget surpluses and has extensive foreign-exchange reserves.
Botswana's impressive economic record compared to some of its neighbors has been built on a foundation of diamond mining, prudent fiscal policies, and a cautious foreign policy. Botswana's economy is mostly dependent on diamond mining. Diamond mining contributes to 50% of the government revenue mainly through its 50:50 joint venture with De Beers in the Debswana Diamond Company. As of 2020, it is rated as the third least corrupt country in Africa in the Corruption Perceptions Index by international corruption watchdog Transparency International. It has the fourth highest gross national income per capita in purchasing power in Africa and above the world average.
Trade unions represent a minority of workers in the Botswana economy. In general they are loosely organised "in-house" unions, although the Botswana Federation of Trade Unions (BFTU) is consolidating its role as the sole national trade union centre in the country.
Although Botswana's economy is considered a model for countries in the region, its overreliance on mining and its high rate of HIV/AIDS infection (one in every three adults is seropositive) and unemployment may threaten its future success. Botswana has become the first high-burden country to be certified for achieving an important milestone on the path to eliminating mother-to-child transmission of HIV by the World Health Organization (WHO).