Wednesday, November 6, 2013

Rank and Economy of Botswana

Rank of Botswana from the poorest is 115, and fromthe richest is 88, with gdp per capita using atlas method in 2993. In other measurement IMF,WB, and CIA using nominal method in 2007, 2007, and 2008
IMF.......................................WB.......................................................CIA
rank/measure........................rank/measure.....................................rank/measure
60/7,933...............................57/6,263......................................64/6,776

Botswana 2-pula banknote (1980s).png

1980s 2 pula note
Currency Pula (BWP)
Statistics
GDP growth -5.2% (2009 est.)
GDP per capita $13,300 (2009 est.)
GDP by sector agriculture (1.6%), industry (52.6%) (including 36% mining, services (45.8%)) (2008 est.)
Inflation (CPI) 8.1% (2009 est.)
Population
below poverty line
30.3% (2003)
Labour force 288,400 formal sector employees (2004)
Labour force
by occupation
N/A
Unemployment 7.5% (2007)
Main industries diamonds, copper, nickel, salt, soda ash, potash, livestock processing, textiles
Ease of Doing Business Rank 59th
External
Exports $5.127 billion f.o.b. (2008 est.)
Export goods diamonds, copper, nickel, soda ash, meat, textiles
Main export partners European Free Trade Association (EFTA) 87%, Southern African Customs Union (SACU) 7%, Zimbabwe 4% (2000)
Imports $3.931 billion f.o.b. (2008 est.)
Import goods foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel and petroleum products, wood and paper products, metal and metal products
Since independence, Botswana has had the highest average economic growth rate in the world, averaging about 9% per year from 1966 to 1999. Growth in private sector employment has averaged about 10% per annum over the first 30 years of independence. The relatively high quality of the country's statistics means that these figures are likely to be quite accurate. The government has consistently maintained budget surpluses and has extensive foreign exchange reserves.
Botswana's impressive economic record has been built on a foundation of diamond mining, prudent fiscal policies, international financial and technical assistance, and a cautious foreign policy. It is rated the least corrupt country in Africa, according to an international corruption watchdog, Transparency International. By one estimate, it has the fourth highest gross national income at purchasing power parity in Africa, giving it a standard of living around that of Mexico and Turkey.[3]
Trade unions represent a minority of workers in the Botswana economy. In general they are loosely organized "in-house" unions, although the Botswana Federation of Trade Unions (BFTU) is consolidating its role as the sole national trade union centre in the country.
At independence, Botswana was among the ten poorest nations in the world.
A year later, in 1967, diamonds were discovered within its borders and over the next three decades, the country became the world's fastest-growing economy.
Since 1970, Botswana is one of only three countries (along with Cape Verde and the Maldives) to have risen out of the United Nations group of Least Developed Countries.

Running out of diamonds

Advertising in Botswana
Botswana’s economy is growing between 5% and 6% a year, with diamonds accounting for three-quarters of its foreign earnings. Botswana currently supplies over a fifth of the world’s rough diamonds.
However, at the current rate of mining, diamond deposits are expected to run out in the next three decades. The country therefore needs to diversify its economy.

Nickel and copper are also mined, as are mineral resources such as salt and soda ash.