The economy of Botswana is currently one of the world's fastest-growing economies, averaging about 5% per annum over the past decade. Growth in private sector employment averaged about 10% per annum during the first 30 years of the country's independence. Botswana's impressive economic record compared to some of its neighbors has been built on a foundation of diamond mining, prudent fiscal policies, and a cautious foreign policy. Botswana's economy is mostly dependent on diamond mining. Diamond mining contributes to 50% of the government revenue mainly through its 50:50 joint venture with De Beers in the Debswana Diamond Company. It is rated as the least corrupt country in Africa in the Corruption Perceptions Index by international corruption watchdog Transparency International. It has the fourth highest gross national income per capita in purchasing power in Africa and above the world average.<br>Trade unions represent a minority of workers in the Botswana economy. In general, they are loosely organized "in-house" unions, although the Botswana Federation of Trade Unions is consolidating its role as the sole national trade union center in the country.
Top Sectors in Botswana
Mining in Botswana
Two large mining companies, Debswana (formed by the government and South Africa's De Beers in equal partnership) and Bamangwato Concessions, Ltd. (BCL, also with substantial government equity participation) operate in the country. BCL was placed in provisional liquidation in late 2016, following years of loss-making operations, and was placed into final liquidation by the High Court in June 2017.
Tourism in Botswana
Tourism is an increasingly important industry in Botswana, accounting for almost 12% of GDP. One of the world's unique ecosystems, the Okavango Delta, is located in Botswana. The country offers excellent game viewing and birding both in the Delta and in the Chobe National Park—home to one of the largest herds of free-ranging elephants in the world. Botswana's Central Kalahari Game Reserve also offers good game viewing and some of the remotest and most unspoiled wilderness in southern Africa.
Agriculture in Botswana
More than half of Botswana's population lives in rural areas and depends on subsistence crops and livestock farming. Agriculture meets only a small portion of food needs and contributes just 2.6% to GDP as of 2002 primarily through beef exports but it remains a social and cultural touchstone. Cattle raising dominated Botswana’s social and economic life before independence.The Botswana Meat Commission have a monopoly on beef production. The national herd was about 2.5 million in the mid-1990s, though the 1995 government-ordered slaughter of the entire herd in Botswana's north-west Ngamiland District, to prevent the spread of "cattle lung disease" to other parts of the country, reduced the number by at least 200,000.
Manufacturing in Botswana
Manufacturing industries in Botswana include food processing, predominantly beef processing, diamond processing, textile and garment manufacturing, beverage making, jewellery making, metals and metal products, soap making, construction materials manufacturing, and glass production.
Science and technology in Botswana
There is a growing science sector in Botswana. The number of publications by Botswanan scientists catalogued in international databases increased from 133 in 2009 to 210 in 2014. In 2018, Botswana produced 281 scientific and technical journal articles. The country has one of the highest levels of scientific productivity in Sub-Saharan Africa. The country also has a high tech industry, being home to a number of information technology companies. In 2020, Botswana's high-tech exports were worth about $16.2 million.
17 Dec 2024
17 Jan 2025
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