Botswana GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

5.9

Units In

6.3

Frequency

Quarterly

Next Release

Jun 27, 2025

Time to Release

2 Months 23 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
37.3 Jun 2021	-26.9 Jun 2020	4.6 %	1995-2022	N/A

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%).

Latest Updates

Botswana's GDP contracted by 2% year-on-year in Q4 2024, following a revised 4.3% decline in the previous period. This marks the fourth consecutive quarter of economic downturn, primarily driven by declines in key sectors such as agriculture, forestry, and fishing (-2.5% vs. -2.1% in Q3), mining and quarrying (-27.3% vs. -27.2%), and manufacturing (-6.5% vs. -1.7%). In contrast, production rebounded sharply in diamond trading (196.2% vs. -75.6%), while output growth accelerated in sectors such as water and electricity (43.7% vs. 28.6%), finance and insurance (4.2% vs. 3.9%), real estate (4.2% vs. 3.9%), and public administration and defense (5.9% vs. 5.3%). On a quarterly basis, GDP grew by 1.3%, recovering from a 2.8% decline in the previous period. For the entire year, the economy contracted by 3%, compared to a 3.2% growth in 2023.