The economy of Botswana shrank 24% year-on-year in the second quarter of 2020, compared to a 2.6% growth in the previous period, amid the effects of a nationwide lockdown to curb the Covid-19 pandemic. The steep contraction was mainly led by mining (-60.2% vs -6.1% in Q1), on lower production of diamonds and coal; trade, hotels & restaurants (-40.3% vs 4.4%), due to travel restrictions; construction (-36% vs 3.2%) and transport & communication (-16.9% vs 2.6%). In contrast, agricultural activity grew sharply (3% vs 0.3%), mainly boosted by crops (2.1%) and horticulture farming (3.1%) due to favorable rainfall experienced during the 2019/20 rainy season, resulting in a bumper crop harvest. On a quarterly basis, the GDP plunged at a record 24.8%, following a downwardly revised 0.8% fall in the previous quarter.
GDP Annual Growth Rate in Botswana averaged 4.28 percent from 1995 until 2020, reaching an all time high of 18.20 percent in the fourth quarter of 2002 and a record low of -24 percent in the second quarter of 2020. This page provides the latest reported value for - Botswana GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Botswana GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Central Statistics Office, Botswana
GDP Annual Growth Rate in Botswana is expected to be -8.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Botswana to stand at 7.30 in 12 months time. In the long-term, the Botswana GDP Annual Growth Rate is projected to trend around 7.80 percent in 2021 and 7.50 percent in 2022, according to our econometric models.