Botswana: Visió econòmica i política
Botswana has made significant efforts to open up to international trade and strengthen its integration in the region, despite its geographical position. According to World Bank, international trade accounted for 94.5% of the country's GDP in 2021. Diamonds represent 90.1% of the country’s total exports, while other significant exports included insulated electric conductors (1.5%), copper ores (1.5%), live bovine animals (1.1%), and carbonates (0.6%). Botswana primarily imports diamonds (35.1%), petroleum oils (9.7%), motor vehicles (3.7%), electrical energy (1.7%), and medicaments (1.6%). The country is heavily dependent on electricity imports, as it only produces 60% of its needs domestically. Botswana’s trade balance is highly dependent on global prices and demand for diamonds.
The United Arab Emirates, Belgium, India, South Africa, and Israel are the country’s leading exports destination. South Africa, Belgium, the United Arab Emirates, India, and Namibia are its main suppliers. The country is a member of several regional and foreign trade organisations like the WTO, the SACU (South African Customs Union), and the SADC (Southern African Development Community), and has signed trade agreements with the European Union and the United States. Botswana is among the freest economies in Sub-Saharan Africa.
According to the last available data from the WTO, Botswana exported USD 7.2 billion worth of goods in 2021, while its goods imports reached USD 8.3 billion. As for services, the country imported USD 1.1 billion and exported USD 468 million. As a result, the country's overall trade balance equalled USD 1.3 billion in 2021. Overall, imports increased 2.7% compared to the previous year, while exports grew by 32.8%, as global demand for diamonds bounced back to pre-pandemic levels.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 5,321 | 6,312 | 6,564 | 6,516 | 8,359 |
Exports of Goods (million USD) | 5,904 | 6,573 | 5,237 | 4,262 | 7,206 |
Imports of Services (million USD) | 818 | 1,111 | 1,041 | 679 | 1,127 |
Exports of Services (million USD) | 947 | 924 | 882 | 486 | 468 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 81.9 | 87.5 | 83.2 | 77.8 | 94.5 |
Trade Balance (million USD) | 813 | 486 | -1,066 | -1,969 | -652 |
Trade Balance (Including Service) (million USD) | 623 | 170 | -1,467 | -2,603 | -1,346 |
Imports of Goods and Services (Annual % Change) | -12.9 | 15.9 | 11.9 | 5.2 | 2.7 |
Exports of Goods and Services (Annual % Change) | -5.5 | 11.9 | -7.1 | -18.1 | 32.8 |
Imports of Goods and Services (in % of GDP) | 39.0 | 43.2 | 46.1 | 46.5 | 49.9 |
Exports of Goods and Services (in % of GDP) | 42.9 | 44.2 | 37.2 | 31.4 | 44.6 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 12.0 | 2.1 | 7.6 | 2.5 | 3.3 |
Volume of imports of goods and services (Annual % change) | -4.1 | 5.5 | 7.5 | 4.0 | 4.7 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Member of Southern African Development Committee (SADC)
Member of African Union
Member of Commonwealth of Nations
Member of the African Economic Community
Member of the Cotonou Agreement
Main Customers (% of Exports) |
2022 |
United Arab Emirates | 27.2% |
Belgium | 18.8% |
India | 15.2% |
South Africa | 10.1% |
Hong Kong SAR, China | 6.5% |
See More Countries | 22.1% |
Main Suppliers (% of Imports) |
2022 |
South Africa | 62.8% |
Namibia | 7.2% |
Belgium | 5.6% |
India | 4.4% |
Canada | 3.6% |
See More Countries | 16.3% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
0.9 bn USD of services exported in 2019 | |
61.86% | |
Personal travelPersonal travel | 61.49% |
Business travelBusiness travel | 0.37% |
16.50% | |
5.75% | |
4.53% | |
4.20% | |
2.64% | |
2.25% | |
2.24% | |
0.04% |
1.2 bn USD of services imported in 2019 | |
22.35% | |
22.22% | |
19.71% | |
Personal travelPersonal travel | 19.36% |
Business travelBusiness travel | 0.35% |
12.29% | |
9.02% | |
6.64% | |
2.58% | |
2.06% | |
1.72% | |
1.41% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: September 2023