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 Indicators 20241
| Capital City | Gaborone |
| Country size | 582 000 km2 |
| GDP at current prices (2024) | R355.8 billion |
| Population (2024) | 2,550,268 |
| Independence Day | 30 September |
| Website | www.gov.bw |
| GDP per capita | R141,426 |
| Real economic growth rate (2024) | -3.0% |
| Annual inflation rate (2024) | 2.7 % |
| Merchandise imports (intra-SACU Trade) (2024) | R97.3 billion |
| Merchandise exports (intra-SACU Trade) (2024) | R14.8 billion |
| Imports to the Rest of the World (2024) | R131.9 billion |
| Exports to the Rest of the World (2024) | R85.4 billion |
1 The Source of data for Real GDP growth and Inflation are Member States Economic Background Papers submitted in May 2024, to support the calculation of the 2024/25FY Revenue Shares. GDP per capita is a result of the Secretariat calculations (i.e., GDP per capita =GDP/Popn)
Economic Performance 2024
- Botswana's economy slowed down in 2023, with real GDP declining to 3.2 percent from 5.5 percent recorded in 2022. Lower growth outcomes were primarily driven by sluggish diamond trading and mining activities, amid reduced global demand. In 2022, the monetary and fiscal policy stance supported economic recovery. Annual inflation in 2023 averaged 5.2 percent significantly lower than the 12.1 percent in 2022. This moderation was mainly attributable to the decrease in vehicle price index as a result of a reduction in sales and a broad decrease in food prices.
- Preliminary data indicates a negative growth of 3.0 percent in 2024. However, overall growth for 2025 and 2026 was projected to recover to 3.3 percent and 3.7 percent, respectively.
