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Formerly the British protectorate of Bechuanaland, Botswana adopted its new name at independence in 1966. More than four decades of uninterrupted civilian leadership, progressive social policies, and significant capital investment have created one of the most stable economies in Africa. The ruling Botswana Democratic Party has won every election since independence; President Ian KHAMA was reelected for a second term in 2014. Mineral extraction, principally diamond mining, dominates economic activity, though tourism is a growing sector due to the country's conservation practices and extensive nature preserves. Botswana has one of the world's highest known rates of HIV/AIDS infection, but also one of Africa's most progressive and comprehensive programs for dealing with the disease.

Location

Southern Africa, north of South Africa

Natural Resources

diamonds, copper, nickel, salt, soda ash, potash, coal, iron ore, silver

Population - distribution

the population is primarily concentrated in the east with a focus in and around the captial of Gaborone, and the far central-eastern city of Francistown; population density remains low in other areas in the country, especially in the Kalahari to the west

2029307
Setswana 77.3%, Sekalanga 7.4%, Shekgalagadi 3.4%, English (official) 2.8%, Zezuru/Shona 2%, Sesarwa 1.7%, Sembukushu 1.6%, Ndebele 1%, other 2.8% (2011 est.)
GABORONE (capital) 247,000 (2014)
Conventional long form
Republic of Botswana
Conventional short form
Botswana
Local long form
Republic of Botswana
Local short form
Botswana
parliamentary republic
Name
Gaborone
Geographic coordinates
24 38 S, 25 54 E
Time difference
UTC+2 (7 hours ahead of Washington, DC, during Standard Time)
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Until the global recession, Botswana maintained one of the world's highest economic growth rates since 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 the secondary earner of foreign exchange and many Batswana engage in subsistence farming and cattle 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 approximately $16,900 in 2016. Botswana also ranks as one of the best credit risks in Africa.
Inflation
3.769%
External debt stocks
US$ 2,147,495,000
Total tax rate (% of commercial profits)
25.1%
Real Interest Rate
-3.148%
Manufacturing, value added (% of GDP)
6.428%
Current Account Balance
US$ 1,120,350,115
Labor Force, Total
1,191,848
Employment in Agriculture
26.43%
Employment in Industry
17.52%
Employment in Services
56.05%
Unemployment Rate
18.37%
Imports of goods and services
US$ 7,728,977,100
Exports of goods and services
US$ 7,537,819,508
Total Merchandise Trade
88.29%
FDI, net inflows
US$ 393,471,406
Commercial Service Exports
US$ 1,174,162,243
livestock, sorghum, maize, millet, beans, sunflowers, groundnuts
diamonds, copper, nickel, salt, soda ash, potash, coal, iron ore, silver; beef processing; textiles
Commodities
diamonds, copper, nickel, soda ash, beef, textiles
Partners
Commodities
foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products
Partners
Country Risk Rating
A4
A somewhat shaky political and economic outlook and a relatively volatile business environment can affect corporate payment behavior. Corporate default probability is still acceptable on average.
Business Climate Rating
A4
The business environment is acceptable. Corporate financial information is sometimes neither readily available nor sufficiently reliable. Debt collection is not always efficient and the institutional framework has shortcomings. Intercompany transactions may thus run into appreciable difficulties in the acceptable but occasionally unstable environments rated A4.
  • Abundant and diverse natural resources (diamonds, copper, uranium, coal)
  • Sustainable level of public and external debt
  • Political stability and level of governance that place Botswana as the leading country in sub-Saharan Africa
  • Dependence on the diamond sector (80% of exports, 30% of budgetary revenues)
  • Insufficient infrastructure (production and distribution of water and electricity)
  • Poverty, inequality and high unemployment

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