Economic Statistics

 

Annual Inflation Rates (2011-2020)

Source: Botswana Financial Statistics (2020)

Botswana experienced a decline in the annual inflation rates over the years as depicted by the downward trend in the figure above. The lowest rates were reached in 2019 and 2020 at 2.2% for both years. The inflation rates have been kept within the Objective range of 3-6% since 2013.  This is the Bank of Botswana’s monetary policy to achieve medium term price stability.

The 2019 Global Competitiveness Report (GCR) indicates that Botswana ranks 91st out of 141 countries with a score of 55.5 (in a scale of 0-100), which is quite below the competitiveness frontier. The indicator measures national competitivenes defined as the set of institutions, polices and factors that determine the level of productivity (Global Competitiveness Report, 2019)

Bank rate was 3.75% as at October 2020  (Bank of Botswana website)

Botswana’s foreign reserves stood at P58 702 000 in December 2020 (Botswana Financial Statistics, 2020)

 

Real GDP Trends

Source: Statistics Botswana Reports, 2020

Real GDP increased by 2.7 percent in first quarter of 2020 compared to 4.3 percent increase in the same quarter of 2019. There was a sharp decline in quarter 2 of 2020 reaching lows of -24%, and -6% in quarter 3. The negative growth are attributable to the  measures put in place to combat COVID-19 the  pandemic, which negatively affected the performance of many sectors of the economy.