105 years old, since 1910.
26 June 2017

Republic of Botswana

Overview

Botswana is the world`s largest producer of diamonds and the trade has transformed it into a middle-income nation. Botswana is trying to reduce its economic dependence on diamonds, moving to boost local business and employment by encouraging more value to be added to diamonds locally. Botswana protects some of Africa`s largest areas of wilderness. It is sparsely populated, because it is dry. The Kalahari Desert, and most areas are too arid to sustain any agriculture other than cattle.

Economic Performance 2015

Botswana's economy as measured by nominal GDP at market prices was estimated at R167.3 billion in 2015 compared to R163.6 billion in 2014. The economy contracted by 0.3 per cent in 2015 compared to a growth of 3.2 per cent in 2014. The decline in real GDP was mainly due to the mining sector which recorded a decrease in real value added of 19.7 per cent. The decline in performance of the mining sector was mainly attributed to the low production the diamond and copper mining. The largest industries, as measured by their nominal value added in 2015, were mining and quarrying accounting for 18.3 per cent of total value added, followed by wholesale, retail, hotel and restaurants accounting for 16.1 per cent of total value added.

In 2015, the annual inflation rate continued a downward trend. The inflation rate eased to 3.1 per cent in 2015 compared to 4.4 per cent in 2014 and 5.9 per cent in 2013, respectively. The fall in the annual inflation rate was mainly due to the fall in the prices in food & non-alcoholic beverages, and transport categories which accounts for 21.84 per cent and 18.98 per cent of the overall inflation basket, respectively.

Economic Indicators 2015

Country size

582 000 km2

GDP at current prices:

R167.3 billion

Population:

2 195 134

GDP per capita:

R76 221

Real economic growth rate:

-0.3%

Annual inflation rate:

3.1 %

Merchandise imports:

R92.2 billion

Merchandise exports:

R79.9 billion

Feeds

Daily News
Mmegi
Sunday Standard
The Botswana Gazette