Botswana Economy

Economic growth:

The economy recorded average annual growth of 3.6% in the decade to 2022. To read more about GDP growth in Botswana, go to our dedicated page.

Fiscal policy:

Botswana's fiscal deficit averaged 1.9% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 19.7% in the decade to 2022. For more information on Botswana's unemployment click here.

Inflation:

Inflation averaged 4.9% in the decade to 2022. Go to our Botswana inflation page for extra insight.

Monetary Policy:

Botswana's monetary policy rate ended 2022 at 2.65%, down from 9.50% a decade earlier. See our Botswana monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the pula weakened by 38.6% vs the U.S. dollar. For more info on the pula, click here.

The economy remained in the doldrums in Q2, shrinking 0.5% annually. Net exports continued to detract from growth due to persistent weakness in global diamond demand—which accounted for over 80% of Botswana’s commodity exports in 2023. That said, Q2’s reading was above the prior quarter’s 5.3% contraction, underpinned by faster increases in private and public spending, as well as fixed investment.Available data suggest the outlook has since darkened. On the external front, diamond exports plummeted over 80% in July, boding ill for the public coffers. Domestically, drought has resulted in crop failure and food insecurity, fanning food prices in July–August and disrupting activity. In other news, in mid-September, Giyani Metals was awarded a 15-year mining license for manganese oxide, a key green mineral, boding well for the energy transition, exports and economic diversification efforts.

Projections out to 2033.

42 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 8 expert analysts.

Want to get insight on the economic outlook for Botswana in the coming years? FocusEconomics collects projections out to 2033 on 42 economic indicators for Botswana from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Botswana economy. To download a sample report on the Botswana's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.