Economic Statistics

The National Accounts Quarterly Brief indicates that the domestic economy increased by 1.2% in the third quarter of 2017 compared to an increase of 6.9% recorded in the same quarter of 2016 (Statistics Botswana GDP Q3, 2017) 

Annual Inflation Rate – 3.3% in May 2018 (Bank of Botswana Monetary Policy Committee Report, 2018 )

Source: Selected Statistical Indicators (1966-2016) and Consumer Price Index Report (December 2018)

From the figure above, there is a downward trend from 12.6% in 2008 to 3.5% in 2018, showing a decrease in inflation rates.  The downward trend might be a result of the adoption of the Monetary Policy framework in 2008 by Bank of Botswana, which has been aiming at keeping the inflation rate within the objective range of 3-6%. Of recent, 2013 to date (2018), the inflation rates have  been able to be kept within the Bank of Botswana objective range of 3-6%.

The 2017/18 Global Competitiveness Report (GCR) indicates that Botswana ranks 63rd  out of 137 countries and, fourth in the region behind South Africa (Global Competitiveness Report 2017/18)

Bank rate has remained unchanged at 5% in January 2019 (Bank of Botswana website, January 2019)

Botswana’s foreign reserves stood at P74.5 billion in November 2018 (Bank of Botswana Website, January 2019)

 

Real GDP Trends

Source: Statistics Botswana GDP Q3, 2018

From the graph above there is a general upward trend in total output over the years. This shows an increase in GDP from P67,996.10M in 2008 to P92, 398.00M in 2017, despite the low economic downturn in terms of closure of mines. Mining output accounts for one of the largest shares in the national output.