The economy of Botswana shrank 4.1% year-on-year in the fourth quarter of 2020, easing from a 6% decline in the previous period. It was the softest economic downturn in the current three-quarter sequence of contraction, reflecting continued efforts to reopen businesses and resume activities that were postponed or restricted due to the COVID-19 pandemic. Activity fell at a slower pace in trade, hotels & restaurants (-8.1% vs -14.3% in Q3); transport & communication (-6.9% vs -9%); construction (-3.3% vs -7.6%) and manufacturing (-1.5% vs -5.3%). Meantime, growth was recorded in finance & business services (1.6% vs -1%) and agriculture (2.8% vs 3.1%). Still, the mining sector plunged (-24.1% vs -15.2%), due to lower production of diamonds and coal. On a quarterly basis, the economy advanced 3.7%, following a record 24.1% growth in the previous quarter. source: Central Statistics Office, Botswana
GDP Annual Growth Rate in Botswana averaged 4.11 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 June of 2021.
GDP Annual Growth Rate in Botswana is expected to be 6.50 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 6.30 in 12 months time. In the long-term, the Botswana GDP Annual Growth Rate is projected to trend around 4.50 percent in 2022 and 4.10 percent in 2023, according to our econometric models.