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.
GDP Annual Growth Rate in Botswana averaged 4.57 percent from 1995 until 2019, 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 June of 2020. source: Central Statistics Office, Botswana
GDP Annual Growth Rate in Botswana is expected to be -6.30 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 5.00 in 12 months time. In the long-term, the Botswana GDP Annual Growth Rate is projected to trend around 6.50 percent in 2021 and 6.30 percent in 2022, according to our econometric models.