Economic overview Botswana, in 36 editions.

The economy has historically been based on cattle raising and crops. Agriculture today provides a livelihood for over 80% of the population, but produces only about 50% of food needs and contributes a small 5% 3% to GDP. The driving force behind the rapid economic growth of the 1970s and 1980s has been the mining industry. This sector, mostly on the strength of diamonds, has gone from generating 25% of GDP in 1980 to over 50% in 1988. 1989. No other sector has experienced such growth, especially not that of the agricultural sector, agriculture, which is plagued by erratic rainfall and poor soils. The unemployment rate remains a problem at 25%. A scarce resource base limits diversification into labor-intensive industries.

The economy has historically been based on cattle raising and crops.
Agriculture today provides a livelihood for over more than 80% of the population,
but produces only about 50% of food needs and contributes a small 3% to GDP. needs. The driving force behind the
rapid economic growth of the 1970s and 1980s has been the mining industry.
This sector, mostly on the strength of diamonds, has gone from generating
25% of GDP in 1980 to over 50% in 1989. No other sector has experienced such
growth, especially not agriculture, which is plagued by erratic rainfall and
poor soils. The unemployment rate remains a problem at 25%. Although diamond
production remained level in FY91, substantial gains in coal output and
manufacturing helped boost the economy

The economy has historically been based on cattle raising and crops.
Agriculture today provides a livelihood for more than 80% of the population,
but produces only about 50% of food needs. The driving force behind the
rapid economic growth of the 1970s and 1980s has been the mining industry.
This sector, mostly on the strength of diamonds, has gone from generating
25% of GDP in 1980 to over 50% in 1989. 1991. No other sector has experienced such
growth, especially not agriculture, which is plagued by erratic rainfall and
poor soils. The unemployment rate remains a problem at 25%. Although diamond
production remained level was down slightly in FY91, 1992, substantial gains in coal output and
manufacturing helped boost the economy

The economy has historically been based on cattle raising and crops.
Agriculture today provides a livelihood for more than 80% of the population,
population, but produces only about 50% of food needs. The driving
force behind the
rapid economic growth of the 1970s and 1980s has been
the mining industry.
This sector, mostly on the strength of diamonds,
has gone from generating
25% of GDP in 1980 to 50% in 1991. No other
sector has experienced such
growth, especially not agriculture, which
is plagued by erratic rainfall and
poor soils. The unemployment rate
remains a problem at 25%. Although diamond
production was down
slightly in 1992, substantial gains in coal output and
manufacturing
helped boost the economy economy. Recovery in sluggish diamond markets in
second half 1993 helped Botswana achieve moderate growth of 3% for the
year.

The economy has historically been based on cattle raising
and crops.
Agriculture today provides a livelihood for more than 80%
of the
population, population but produces supplies only about 50% of food needs. needs and
accounts for only 5% of GDP. Subsistence farming and cattle raising
predominate. The driving
force behind the rapid economic growth of the
1970s and 1980s has been
the mining industry. This sector, mostly on
the strength of diamonds,
has gone from generating 25% of GDP in 1980
to 50% 39% in 1991. 1994. No other
sector has experienced such growth,
especially not agriculture, which
is plagued by erratic rainfall and
poor soils. The unemployment rate
remains a problem at 25%. Although diamond production was down
slightly in 1992, substantial gains in coal output and manufacturing Hampered
helped boost the economy. Recovery in by a still sluggish diamond markets market in
second half 1993 helped Botswana achieve moderate growth of 3% for the
year. 1994, GDP grew by only 1%.

The economy has historically been based on
cattle raising
and crops. Agriculture today provides a livelihood
for more than 80%
of the population but supplies only about 50% of
food needs and
accounts for only 5% of GDP. Subsistence farming and
cattle raising
predominate. The sector is plagued by erratic
rainfall and poor soils. The driving force behind the rapid economic
growth of the
1970s and 1980s has been the mining industry. This
sector, mostly on
the strength of diamonds, has gone from generating
25% of GDP in 1980
to 39% in 1994. No other sector has experienced such growth,
especially not agriculture, which is plagued by erratic rainfall and
poor soils. The unemployment rate remains a
problem at 25%. 21%. Hampered
by a still sluggish diamond market in 1994, 1994
and 1995, GDP grew by only 1%. 1% in both years.

The economy has historically been based on
cattle raising and crops. Agriculture today still provides a livelihood
for more
than 80% of the population but supplies only about 50% of
food needs
and accounts for only 5% 4% of GDP. Subsistence farming and
cattle
raising predominate. The sector is plagued by erratic
rainfall and
poor soils. The driving force behind the rapid economic
growth of Substantial mineral deposits were found in the 1970s and 1980s has been the mining industry. This
sector, mostly on the strength of diamonds, has gone mining sector grew from generating
25% of GDP in 1980 to 39% 33% in 1994. 1995. The
unemployment rate remains a
problem at 21%. Hampered by a still sluggish diamond market in 1994 On the plus side is the
and 1995, GDP grew by only 1% in both years. substantial positive trade balance.

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 33% 35% in 1995. The 1997. Unemployment
unemployment rate remains a problem at 21%. officially is 21% but unofficial estimates place it closer to 40%. On
the plus side is the
substantial positive trade balance.

Agriculture still provides a livelihood for more
more than 80% of the population but supplies only about 50% of food needs
needs and accounts for only 4% of GDP. Subsistence farming and cattle
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
Unemployment officially is 21% but unofficial estimates place it
closer to 40%. On
the plus side is the substantial positive trade balance.

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% 3% 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. Diamond mining and tourism also are important to the economy. Substantial mineral deposits were found in the 1970s
and the mining sector grew from 25% of GDP in 1980 to 35% 38% in 1997.
1998. Unemployment officially is 21% but unofficial estimates place it
closer to 40%. The Orapa 2000 project, which will double the capacity of the country's main diamond mine, will be finished in early 2000. This will be the main force behind continued economic expansion.

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 $6,600 $7,800 in 2000. 2001. Two major investment services rank Botswana as the best credit risk in Africa. Diamond mining has fueled much of Botswana's economic expansion and currently accounts for more than one-third of GDP and for three-fourths four-fifths of export earnings. Tourism, subsistence farming, and cattle raising are other key sectors. The On the downside, the government must deal with high rates of unemployment and poverty. Unemployment officially is 19%, 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.

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 $7,800 $9,500 in 2001. 2002. 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 four-fifths 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 prospects of a leveling off in diamond mining production.

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 $9,500 $8,800 in 2002. 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 prospects of a expected leveling off in diamond mining production.

Botswana has maintained one of the world's highest economic 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 $9,200 in 2003. 2004. 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 70-80% of export earnings. Tourism, financial services, 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%, 23.8%, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the second highest in the world and threaten Botswana's impressive economic gains. Long-term prospects are overshadowed by the An expected leveling off in diamond mining production. production overshadow long-term prospects.

Botswana has maintained one of the world's highest economic 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 $9,200 $10,000 in 2004. 2005. 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 70-80% of export earnings. Tourism, financial services, 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 23.8%, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the second highest in the world and threaten Botswana's impressive economic gains. An expected leveling off in diamond mining production overshadow overshadows long-term prospects.

Botswana has maintained one of the world's highest economic growth rates since independence in 1966. 1966, though growth slowed to 4.7% in 2006. 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 $10,000 more than $11,000 in 2005. 2006. 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 70-80% of export earnings. Tourism, financial services, 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 23.8%, was 23.8% in 2004, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the second highest in the world and threaten Botswana's impressive economic gains. An expected leveling off in diamond mining production overshadows long-term prospects.

Botswana has maintained one of the world's highest economic growth rates since independence in 1966, though growth slowed to 4.7% annually in 2006. 2006-07. 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 more than $11,000 nearly $15,000 in 2006. 2007. 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 70-80% of export earnings. Tourism, financial services, 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 was 23.8% in 2004, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the second highest in the world and threaten Botswana's impressive economic gains. An expected leveling off in diamond mining production overshadows long-term prospects.

Botswana has maintained one of the world's highest economic growth rates since independence in 1966, though growth slowed to 4.7% annually fell below 5% in 2006-07. 2007-08. 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 nearly $15,000 $13,300 in 2007. 2008. 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 70-80% of export earnings. Tourism, financial services, 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 was 23.8% in 2004, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the second highest in the world and threaten Botswana's impressive economic gains. An expected leveling off in diamond mining production overshadows long-term prospects.

Botswana has maintained one of the world's highest economic growth rates since independence in 1966, though growth fell below 5% in 2007-08. 2007-08, and turned sharply negative in 2009, with industry falling nearly 30%. 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 $13,300 $13,100 in 2008. 2010. 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 GDP, 70-80% of export earnings. earnings, and about half of the government's revenues. Botswana's heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. On the downside, the government must deal with high rates of Although unemployment and poverty. Unemployment officially was 23.8% 7.5% in 2004, but 2007 according to official reports, unofficial estimates place it closer to 40%. The prevalence of HIV/AIDS infection rates are the is second highest in the world and threaten threatens Botswana's impressive economic gains. An expected leveling off in diamond mining production within the next two decades overshadows long-term prospects.

Botswana has maintained one of the world's highest economic growth rates since independence in 1966, though 1966. However, economic growth fell below 5% in 2007-08, and turned sharply was negative in 2009, with industry falling nearly 30%. the industrial sector shrinking by 30%, after the global crisis reduced demand for Botswana's diamonds. Although the economy recovered in 2010, GDP growth has again slowed. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $13,100 $16,800 in 2010. 2012. 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, 70-80% of export earnings, and about half of the government's revenues. Botswana's heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. Although unemployment was 7.5% in 2007 according to official reports, unofficial Unofficial estimates place it closer unemployment at close to 40%. The prevalence of HIV/AIDS is second highest in the world and threatens Botswana's impressive economic gains. An expected leveling off in diamond mining production within the next two decades overshadows long-term prospects. A major international diamond company signed a 10-year deal with Botswana in 2012 to move its rough stone sorting and trading division from London to Gaborone by the end of 2013. The move will support Botswana's downstream diamond industry.

Botswana has maintained one of the world's highest economic growth rates since independence in 1966. However, economic growth was negative in 2009, with the industrial sector shrinking by 30%, after the global crisis reduced demand for Botswana's diamonds. Although the economy recovered in 2010, GDP growth has again slowed. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $16,800 in 2012. 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, 70-80% of export earnings, and about half one-third of the government's revenues. Botswana's heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. Unofficial estimates place unemployment at close According to 40%. official government statistics, unemployment reached 17.8% in 2009, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens Botswana's impressive economic gains. An expected leveling off in diamond production within the next two decades overshadows long-term prospects. A major international diamond company signed a 10-year deal with Botswana in 2012 to move its rough stone sorting and trading division from London to Gaborone by the end of 2013. The move will may support Botswana's downstream diamond industry.

Botswana has maintained one of the world's highest economic growth rates since independence in 1966. However, economic growth was negative in 2009, with the industrial sector shrinking by 30%, after the global crisis reduced demand for Botswana's diamonds. Although the economy recovered in 2010, GDP growth has again slowed. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $16,800 $16,400 in 2012. 2013. 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, 70-80% of export earnings, and about one-third of the government's revenues. Botswana's heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. According to official government statistics, unemployment reached 17.8% in 2009, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens Botswana's impressive economic gains. An expected leveling off in diamond production within the next two decades overshadows long-term prospects. A major international diamond company signed a 10-year deal with Botswana in 2012 to move its rough stone sorting and trading division from London to Gaborone by the end of 2013. The move may support Botswana's downstream diamond industry.

Botswana Botswana’s diamond dependent economy has maintained one of the world's highest economic growth rates since independence in 1966. However, economic growth was negative in 2009, with the industrial sector shrinking by 30%, after the global crisis reduced demand for Botswana's diamonds. Although the economy recovered in 2010, 2010-12, GDP growth has again slowed. slowed in 2012-14. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $16,400 $16,600 in 2013. 2014. 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, 70-80% of export earnings, and about one-third of the government's revenues. Botswana's heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. According to official government statistics, unemployment reached 17.8% in 2009, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens Botswana's impressive economic gains. An expected leveling off in diamond production within the next two decades 10-15 years overshadows long-term prospects. A major international diamond company signed a 10-year deal with Botswana in 2012 to move its rough stone sorting and trading division from London to Gaborone by the end of 2013. The move may support has supported the development of Botswana's nascent downstream diamond industry.

Botswana’s diamond dependent economy Botswana has maintained one of the world's highest economic growth rates since independence in 1966. However, economic growth was negative in 2009, with the industrial sector shrinking by 30%, after Diamond mining has fueled much of the global crisis reduced demand expansion and currently accounts for Botswana's diamonds. Although one quarter of GDP, approximately 85% of export earnings, and about one-third of the economy recovered in 2010-12, GDP growth slowed government's revenues. Tourism is the secondary earner of foreign exchange and many Batswana engage in 2012-14. subsistence farming and cattle raising. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $16,600 $17,700 in 2014. 2015. 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, 70-80% of export earnings, and about one-third of the government's revenues.
Botswana's economy is highly correlated with global economic trends because of its heavy reliance on a single luxury export was a critical factor in the sharp economic contraction of 2009. Tourism, financial services, subsistence farming, and cattle raising are other key sectors. export. According to official government statistics, unemployment reached 17.8% in 2009, is 19.5%, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens Botswana's impressive economic gains. An expected leveling off in diamond production within the next 10-15 years overshadows long-term prospects. A De Beers, a major international diamond company company, signed a 10-year deal with Botswana in 2012 to move and moved its rough stone sorting and trading division from London to Gaborone by the end of in 2013. The move has supported was geared to support the development of Botswana's nascent downstream diamond industry.
Following the 2008 global recession Botswana’s economy recovered in 2010. However, the Government of Botswana estimates the economy grew by only 1% in 2015. This was primarily due to the downturn in the global diamond market; water and power shortages also played a role. In October 2015 President Ian KHAMA announced a stimulus plan to boost the economy through projects in agricultural production, construction, manufacturing, and tourism development. In 2016, Botswana entered its fourth year of drought, detrimental to Botswana’s small, but vital agriculture sector.
The prevalence of HIV/AIDS is second highest in the world and threatens the country's impressive economic gains.

Until the global recession, Botswana has maintained one of the world's highest economic growth rates since independence in 1966. Diamond mining has fueled much of the economic expansion and currently accounts for one quarter one-quarter of GDP, approximately 85% of export earnings, and about one-third of the government's revenues. Tourism is the secondary earner of foreign exchange and many Batswana engage in subsistence farming and cattle raising. rearing. Through fiscal discipline and sound management, Botswana transformed itself from one of the poorest countries in the world to a middle-income country with a per capita GDP of $17,700 approximately $16,900 in 2015. Two major investment services rank 2016. Botswana also ranks as one of the best credit risk risks in Africa.
Botswana's economy is highly correlated with closely follows global economic trends because of its heavy reliance on a single luxury export. According to official government statistics, unemployment is 19.5%, around 20%, but unofficial estimates run much higher. De Beers, a major international diamond company, signed a 10-year deal with Botswana in 2012 and moved its rough stone sorting and trading division from London to Gaborone in 2013. The move was geared to support the development of Botswana's nascent downstream diamond industry.
Following Botswana’s economy recovered from the 2008 global recession Botswana’s economy recovered in 2010. However, the Government of Botswana estimates the economy grew by 2010, but has only 1% in 2015. This was grown modestly since then, primarily due to the downturn in the global diamond market; market, though water and power shortages also played a role. In October 2015 President Ian KHAMA announced a stimulus plan to boost the economy through projects The prevalence of HIV/AIDS is second highest in agricultural production, construction, manufacturing, the world and tourism development. threatens the country's impressive economic gains. In 2016, Botswana entered its fourth year of drought, detrimental to Botswana’s small, but vital agriculture sector.
The prevalence of HIV/AIDS is second sector, but diamond exports increased to their highest in the world and threatens the country's impressive levels since 2013, buffering economic gains. growth. As a result, the economy registered 2.9% growth in 2016.

Until the beginning of the global recession, recession in 2008, Botswana maintained one of the world's highest economic growth rates since its independence in 1966. Diamond mining fueled much of the economic expansion and currently accounts for one-quarter of GDP, approximately 85% of export earnings, and about one-third of the government's revenues. Tourism is Botswana recovered from the secondary earner of foreign exchange and many Batswana engage global recession in subsistence farming 2010, but only grew modestly until 2017, primarily due to a downturn in the global diamond market, though water and cattle rearing. power shortages also played a role. Through fiscal discipline and sound management, Botswana has transformed itself from one of the poorest countries in the world to five decades ago into a middle-income country with a per capita GDP of approximately $16,900 $18,100 in 2016. 2017. Botswana also ranks as one of the least corrupt and best credit risks places to do business in sub-Saharan Africa.
Botswana's Because of its heavy reliance on diamond exports, Botswana’s economy closely follows global economic price trends because for that one commodity. Diamond mining fueled much of its heavy reliance on a single luxury export. According Botswana’s past economic expansion and currently accounts for one-quarter of GDP, approximately 85% of export earnings, and about one-third of the government's revenues. In 2017, Diamond exports increased to official government statistics, unemployment is around 20%, but unofficial estimates run much higher. the highest levels since 2013 at about 22 million carats of output, driving Botswana’s economic growth to about 4.5% and increasing foreign exchange reserves to about 45% of GDP. De Beers, a major international diamond company, signed a 10-year deal with Botswana in 2012 and moved its rough stone sorting and trading division from London to Gaborone in 2013. The move was geared to support the development of Botswana's nascent downstream diamond industry.
Botswana’s economy recovered from the 2008 global recession in 2010, but has only grown modestly since then, primarily due to the downturn Tourism is a secondary earner of foreign exchange and many Batswana engage in the global diamond market, though water tourism-related services, subsistence farming, and power shortages also played a role. cattle rearing. According to official government statistics, unemployment is around 20%, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens the country's impressive economic gains. In 2016, Botswana entered its fourth year of drought, detrimental to Botswana’s small, but vital agriculture sector, but diamond exports increased to their highest levels since 2013, buffering economic growth. As a result, the economy registered 2.9% growth in 2016.

Until the beginning of the global recession in 2008, Botswana maintained one of the world's highest economic growth rates since its independence in 1966. Botswana recovered from the global recession in 2010, but only grew modestly until 2017, primarily due to a downturn in the global diamond market, though water and power shortages also played a role. Through fiscal discipline and sound management, Botswana has transformed itself from one of the poorest countries in the world five decades ago into a middle-income country with a per capita GDP of approximately $18,100 in 2017. Botswana also ranks as one of the least corrupt and best places to do business in sub-Saharan Sub-Saharan Africa. Because of its heavy reliance on diamond exports, Botswana’s economy closely follows global price trends for that one commodity. Diamond mining fueled much of Botswana’s past economic expansion and currently accounts for one-quarter of GDP, approximately 85% of export earnings, and about one-third of the government's revenues. In 2017, Diamond exports increased to the highest levels since 2013 at about 22 million carats of output, driving Botswana’s economic growth to about 4.5% and increasing foreign exchange reserves to about 45% of GDP. De Beers, a major international diamond company, signed a 10-year deal with Botswana in 2012 and moved its rough stone sorting and trading division from London to Gaborone in 2013. The move was geared to support the development of Botswana's nascent downstream diamond industry. Tourism is a secondary earner of foreign exchange and many Batswana engage in tourism-related services, subsistence farming, and cattle rearing. According to official government statistics, unemployment is around 20%, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens the country's impressive economic gains.

Until the beginning of the global recession in 2008, Botswana maintained one of the world's highest economic growth rates since its independence in 1966. Botswana recovered from the global recession in 2010, but only grew modestly until 2017, primarily due to a downturn in the global diamond market, though water and power shortages also played a role. Through fiscal discipline and sound management, Botswana has transformed itself from one of the poorest countries in the world five decades ago into a middle-income country with a per capita GDP of approximately $18,100 in 2017. Botswana also ranks as one of the least corrupt and best places to do business in Sub-Saharan Africa.
Because of its heavy reliance on diamond exports, Botswana’s economy closely follows global price trends for that one commodity. Diamond mining fueled much of Botswana’s past economic expansion and currently accounts for one-quarter of GDP, approximately 85% of export earnings, and about one-third of the government's revenues. In 2017, Diamond exports increased to the highest levels since 2013 at about 22 million carats of output, driving Botswana’s economic growth to about 4.5% and increasing foreign exchange reserves to about 45% of GDP. De Beers, a major international diamond company, signed a 10-year deal with Botswana in 2012 and moved its rough stone sorting and trading division from London to Gaborone in 2013. The move was geared to support the development of Botswana's nascent downstream diamond industry.
Tourism is a secondary earner of foreign exchange and many Batswana engage in tourism-related services, subsistence farming, and cattle rearing. According to official government statistics, unemployment is around 20%, but unofficial estimates run much higher. The prevalence of HIV/AIDS is second highest in the world and threatens the country's impressive economic gains.