Economy - overview Agriculture still provides a livelihood for more than 80% of the population but supplies only about 50% of food needs and accounts for only 4% of GDP. Subsistence farming and cattle raising predominate. Diamond mining and tourism also are important to the economy. The sector is plagued by erratic rainfall and poor soils. Substantial mineral deposits were found in the 1970s and the mining sector grew from 25% of GDP in 1980 to 35% in 1997. Unemployment officially is 21% but unofficial estimates place it closer to 40%. On the plus side is the substantial positive trade balance.

GDP purchasing power parity - $5 billion (1997 est.)

GDP - real growth rate 6% (1997 est.)

GDP - per capita purchasing power parity - $3,300 (1997 est.)

GDP - composition by sector
agriculture: 4%
industry: 45% (including 35% mining)
services: 51% (1997 est.)

Inflation rate - consumer price index 10% (1996 est.)

Labor force
total: 235,000 formal sector employees (1995)
by occupation: 100,000 public sector; 135,000 private sector, including 14,300 who are employed in various mines in South Africa; most others engaged in cattle raising and subsistence agriculture (1995 est.)

Unemployment rate 20-40% (1997 est.)

Budget
revenues: $1.6 billion
expenditures: $1.8 billion, including capital expenditures of $560 million (FY96/97)

Industries diamonds, copper, nickel, coal, salt, soda ash, potash; livestock processing

Industrial production growth rate 4.6% (FY92/93)

Electricity - capacity 217,000 kW (1995)

Electricity - production 1 billion kWh (1995)

Electricity - consumption per capita 962 kWh (1995)

Agriculture - products sorghum, maize, millet, pulses, groundnuts (peanuts), beans, cowpeas, sunflower seed; livestock

Exports
total value: $2.31 billion (f.o.b. 1996 est.)
commodities: diamonds 71%, copper and nickel 5%, meat 3%
partners: Europe 74%, Southern African Customs Union (SACU) 22%, Zimbabwe 3%

Imports
total value: $1.6 billion (c.i.f., 1996 est.)
commodities: foodstuffs, vehicles and transport equipment, textiles, petroleum products
partners: Southern African Customs Union (SACU) 74%, Europe 8%, Zimbabwe 6%

Debt - external $619 million (1996)

Economic aid
recipient: ODA, $189 million (1993)

Currency 1 pula (P) = 100 thebe

Exchange rates pula (P) per US$1 - 3.8547 (January 1998), 3.6508 (1997), 3.3242 (1996), 2.7716 (1995), 2.6831 (1994), 2.4190 (1993)

Fiscal year 1 April - 31 March

NOTE: The information regarding Botswana on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Botswana Economy 1998 information contained here. All suggestions for corrections of any errors about Botswana Economy 1998 should be addressed to the CIA.