The economy of Botswana advanced by 2.6% yoy in the first quarter of 2020, quickening from a 1.6% growth in the previous period. The expansion was mainly driven by water & electricity (13.4% vs 22.3% in Q4); finance & business services (6.2% vs 5.9%) and trade, hotels & restaurants (4.4% vs 1.1%), namely wholesale trade (11.5%), due to the favorable performance of downstream diamond industries. On the other hand, declines were observed in mining (-6.1% vs -0.1%), amid lower production of diamonds (-5.7%) and soda ash (-11.4%) as demand was affected by the Covid-19 pandemic; and agriculture (-0.6% vs -1%), mainly due to lower livestock output (-0.2%). On a quarterly basis, the GDP contracted 0.9%, for the first time since Q1 of 2019, after rising 1.7% in the previous period.
GDP Annual Growth Rate in Botswana averaged 4.55 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 -10.40 percent in the third quarter of 2009. 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 July of 2020. source: Central Statistics Office, Botswana
GDP Annual Growth Rate in Botswana is expected to be -7.60 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 4.70 in 12 months time. In the long-term, the Botswana GDP Annual Growth Rate is projected to trend around 5.60 percent in 2021 and 6.30 percent in 2022, according to our econometric models.