ure 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 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. Recovery in sluggish diamond markets in
second half 1993 helped Botswana achieve moderate growth of 3% for the
year.
National product:
GDP - purchasing power equivalent - $6 billion (1993 est.)
National product real growth rate:
3% (1993 est.)
National product per capita:
$4,500 (1993 est.)
Inflation rate (consumer prices):
14% (1993 est.)
Unemployment rate:
25% (1993 est.)
Budget:
revenues:
$1.7 billion
expenditures:
$1.99 billion, including capital expenditures of $652 million (FY94)
Exports:
$1.7 billion (f.o.b. 1992)
commodities:
diamonds 78%, copper and nickel 6%, meat 5%
partners:
Switzerland, UK, SACU (Southern African Customs Union)
Imports:
$1.8 billion (c.i.f., 1992)
commodities:
foodstuffs, vehicles and transport equipment, textiles, petroleum
products
partners:
Switzerland, SACU (Southern African Customs Union), UK, US
External debt:
$344 million (December 1991)
Industrial production:
growth rate 6.8% (FY91); accounts for about 53% of GDP, including
mining
Electricity:
capacity:
220,000 kW
production:
901 million kWh (in addition 228,000,000 kWh were imported)
consumption per capita:
874 kWh (1992 est.)
Industries:
mining of diamonds, copper, nickel, coal, salt, soda ash, potash;
livestock processing
Agriculture:
accounts for only 5% of GDP; subsistence farming predominates; cattle
raising supports 50% of the population; must import up to of 80% of
food needs
Economic aid:
recipient:
US aid (1992), $13 million; Norway (1992), $16 million; Sweden (1992),
$15.5 million; Germany (1992), $3.6 million; EC/Lome-IV (1992), $3-6
million in grants; $28.7 million in long-term projects (1992)
Currency:
1 pula (P) = 100 thebe
Exchange rates:
pula (P) per US$1 - 3.1309 (January 1994), 2.4190