Economy Of Botswana
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Economy overview
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Botswana has maintained one of the world's highest growth rates since independence in 1966. Through fiscal discipline and sound management, Botswana has transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $8,800 in 2003. Two major investment services rank Botswana as the best credit risk in Africa. Diamond mining has fueled much of the expansion and currently accounts for more than one-third of GDP and for nine-tenths of export earnings. Tourism, subsistence farming, and cattle raising are other key sectors. On the downside, the government must deal with high rates of unemployment and poverty. Unemployment officially is 21%, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the highest in the world and threaten Botswana's impressive economic gains. Long-term prospects are overshadowed by the expected leveling off in diamond mining production.
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GDP
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purchasing power parity - $14.2 billion (2004 est.)
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GDP - real growth rate
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7.2% (2004 est.)
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GDP - per capita
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purchasing power parity - $9,000 (2004 est.)
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GDP - composition by sector
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agriculture: 4%
industry: 48.7% (including 36% mining)
services: 52% (2003 est.)
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Investment gross fixed
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23.9% of GDP (2004 est.)
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Population below poverty line
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47% (2002 est.)
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Household income or consumption by percentage share
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lowest 10%: NA
highest 10%: NA
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Distribution of family income - Gini index
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Inflation rate consumer prices
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9.2% (2004 est.)
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Labor force
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264,000 formal sector employees (2000)
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Labor force by occupation
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NA
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Unemployment rate
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40% (official rate is 21%) (2001 est.)
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Budget
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revenues: $3.263 billion
expenditures: $3.283 billion, including capital expenditures of NA (2004 est.)
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Public debt
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7% of GDP (2004 est.)
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Agriculture products
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livestock, sorghum, maize, millet, beans, sunflowers, groundnuts
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Industries
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diamonds, copper, nickel, salt, soda ash, potash; livestock processing; textiles
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Industrial production growth rate
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7.3% (2004 est.)
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Electricity production
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409.8 million kWh (2001)
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Electricity production by source
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fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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1.564 billion kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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1.183 billion kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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16,000 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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$539 million (2004 est.)
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Exports
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$2.544 billion f.o.b. (2004 est.)
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Exports commodities
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diamonds, copper, nickel, soda ash, meat, textiles
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Exports partners
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European Free Trade Association (EFTA) 87%, Southern African Customs Union (SACU) 7%, Zimbabwe 4% (2000)
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Imports
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$1.753 billion f.o.b. (2003 est.)
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Imports commodities
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foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products
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Imports partners
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Southern African Customs Union (SACU) 74%, EFTA 17%, Zimbabwe 4% (2000)
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Reserves of foreign exchange gold
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$5.25 billion (2004 est.)
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Debt external
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$392 million (2004 est.)
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Economic aid recipient
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$73 million (1995)
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Currency
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pula (BWP)
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Currency code
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BWP
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Exchange rates
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pulas per US dollar - 4.9499 (2003), 6.3278 (2002), 5.8412 (2001), 5.1018 (2000), 4.6244 (1999)
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Fiscal year
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1 April - 31 March
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Applied Language Solutions offer English Translation , English to Setswana Translation .
This information was reproduced in part from the CIA World Fact book.
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