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.

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Botswana GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-24.00 2.60 18.20 -24.00 1995 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-12-20 03:15 PM Q3 3.1% 3.1% 2.7%
2020-04-02 03:15 PM Q4 1.6% 3.1% 3.5%
2020-07-06 05:30 AM Q1 2.6% 1.6% -5%
2020-09-29 12:45 PM Q2 -24% 2.6% -11.6%
2020-12-28 10:00 AM Q3 -24% -7.8%


News Stream
Botswana GDP Contracts at Record Pace in Q2
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.
2020-09-29
Botswana GDP Annual Growth Quickens to 2.6% in Q1
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.
2020-07-06
Botswana Q4 GDP Growth Weakest since 2017
The economy of Botswana advanced by 1.6% year-on-year in the fourth quarter of 2019, decelerating sharply from a 3.1% growth in the previous period. It was the slowest pace of economic growth since the second quarter of 2017, due to weak performance of the mining sector (-8.1% vs -2.2% in Q3), reflected in lower production of diamonds (-7%); coal (-17.2%) and soda ash (-27.2%). Also, agricultural activity shrank (-1% vs -1.4%), as drought continued to hit livestock farming (-0.4%). Also, output rose less for manufacturing (1.8% vs 3%); trade, hotels & restaurants (1.1% vs 4.9%) and construction (3.1% vs 3.2%). On a more positive note, notable growth was seen in utilities (22.3% vs 0.1%), namely electricity after reopening the Morupule A station; finance (5.9% vs 6.4%) and transport & communication (4.8% vs 5.3%). On a quarterly basis, the GDP rose 1.7% compared to an upwardly revised 0.3% expansion in the previous period. In 2019, the economy grew 3%, below 4.5% a year ago.
2020-04-02
Botswana GDP Growth Rate Steady at 3.1% in Q3
The economy of Botswana advanced 3.1% year-on-year in the third quarter of 2019, the same pace as in the previous period which was the slowest since the second quarter of 2017. Output continued to fall in mining & quarrying (-2.2% vs -7.9%), mainly attributable to soda ash (-5.8%), coal (-28.7%) and diamonds (-0.7%); water & electricity (-2.4% vs -1.2%) and agriculture (-1.4% vs -0.5%), amid the impact of drought in livestock (-1.1%) and crops (-0.9%). Also, growth slowed further in manufacturing (3.2% vs 3.5%); transport & communication (5.3% vs 5.4%) and trade, hotels & restaurants (5.5% vs 5.7%). Meanwhile, finance & business services advanced faster (6.1% vs 6.0%). On a quarterly basis, the GDP rose 0.2%, following an upwardly revised 1.6% in the previous quarter.
2019-12-20

Botswana GDP Annual Growth Rate
Botswana is considered as a middle-income country having been one of the fastest growing economies in Africa during the last decade. Diamond extraction is the main factor behind high growth rates as it accounts for more than one-third of GDP; almost all export earnings, and half of the government's revenues. Other key sectors are tourism, financial services, subsistence farming, and cattle raising. The largest sector of Botswana economy is trade, hotels & restaurants accounts (24% of GDP), followed by financial & business services (17%); general government (15%) and mining (12%). Other sectors include: construction (9%), community, social & personal service activities (8%); transport, storage & communication (7%), manufacturing (7%), agriculture, hunting & forestry (1%) and electricity, gas & water supply both around (1%).