Botswana Economic Forecast

Botswana Economic Outlook

June 19, 2018

Available indicators suggest last year’s subdued economic performance, which was largely attributable to significant declines in copper and nickel production, carried over at the start of the year, reflected through soft external sector activity. Exports contracted while imports rose markedly in Q1, leading to a notable reduction of the trade surplus compared to Q1 2017. However, the diamond industry—the backbone of Botswana’s economy—proved resilient as exports of diamonds remained broadly stable compared to the same period last year. Meanwhile, on the completion of its yearly staff visit on 8 June, the IMF praised the country’s sound macroeconomic and financial metrics, but also urged authorities to undertake reforms in view of improving the business environment and diversifying the economy.

Botswana Economic Growth

Economic growth is expected to pick up this year on the back of higher public spending and increased diamond sales. FocusEconomics panelists see GDP growing 4.1% in 2018, down 0.2 percentage points from last month’s estimate, and 4.3% in 2019.

Botswana Economy Data

Population (million)
GDP per capita (USD)7,0287,8796,9537,2988,051
GDP (USD bn)14.616.614.815.717.6
Economic Growth (GDP, annual variation in %)11.34.1-
Fiscal Balance (% of GDP)5.63.7-4.6-1.10.4
Public Debt (% of GDP)17.417.316.315.515.6
Money (annual variation in %)
Inflation Rate (CPI, annual variation in %, eop)
Inflation Rate (CPI, annual variation in %)
Exchange Rate (vs USD)8.789.5111.2510.689.83
Policy Interest Rate (%)7.507.506.005.505.00
Exchange Rate (vs USD, aop)8.408.9810.1410.8910.34
Current Account (% of GDP)7.613.25.613.712.3
Current Account Balance (USD bn)
Trade Balance (USD billion)-0.10.8-
Exports (USD billion)
Imports (USD billion)
Exports (annual variation in %)34.011.8-25.714.6-19.1
Imports (annual variation in %)-1.60.7-10.0-17.2-14.4
International Reserves (USD)
External Debt (% of GDP)16.315.415.013.4-  

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Botswana Facts

Bond Yield4.900.23 %Jul 11
Exchange Rate10.29-0.31 %Jul 11
Stock Market0.10.0 %Jul 11

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