Economy of Botswana
Botswana is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Botswana may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Botswana exports around $7.57 billion and imports roughly $7.39 billion. 18.1% of population in the country are unemployed. The total number of unemployed people in Botswana is 422,309. In Botswana, 30.3% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Botswana is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 8.9% of GDP. The Gini Index of the country is 63. Botswana is experiencing bad inequality. The gap between the richest and poorest citizens in this country is plainly obvious and highly significant, resulting in a dramatically different standard of living for rich and poor citizens. Botswana has a Human Development Index (HDI) of 0.683. Botswana has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for Botswana is 1.597. Due to strong law enforcement presence and high social responsibility, Botswana is very safe by international standards. The strength of legal rights index for Botswana is 5. Overall, it is considered to be rather inadequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient.
Currency
The currency of Botswana is Botswana pula. The plural form of the word Botswana pula is pula. The symbol used for this currency is P, and it is abbreviated as BWP. The Botswana pula is divided into Thebe; there are 100 in one pula.
Credit rating
The depth of credit information index for Botswana is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Botswana has a credit rating score of A-, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Botswana has a credit rating score of A2, and the prospects of this rating are negative.
Central bank
The prime lending rate of Botswana's commercial banks is 9. In Botswana, the institution that manages the state's currency, money supply, and interest rates is called Bank of Botswana. The average deposit interest rate offered by local banks in Botswana is 2.5%.
Public debt
Botswana has a government debt of 34.5% of the country's Gross Domestic Product (GDP), as assessed in 2012.
Tax information
The corporate tax in Botswana is set at 22%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Botswana is 12%.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Botswana is $35870 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Botswana was last recorded at $15 million. PPP in Botswana is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Botswana is 14,778 billion. Based on this statistic, Botswana is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Botswana was last recorded at $6 million. The average citizen in Botswana has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Botswana averaged 4.4% in 2014. According to this percentage, Botswana is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Botswana.
Industry
Major industries in the country are diamonds, copper, nickel, salt, soda ash, potash, coal, iron ore, silver, livestock processing, textiles. The total labor force of Botswana is 1,130,050 people, wherein 18.1% of population in the country are unemployed. The total number of unemployed people in Botswana is 422,309. The Industrial Production growth rate of Botswana is 6.9%.To read more about industrial information within Botswana click on industry of Botswana.
Agriculture
There are 3805 km2 of arable land in Botswana, and it comprises 1% of the country's total territory. There are 3864 km2 of cultivated land in Botswana. The country's major agricultural crops and products are livestock, sorghum, maize, millet, beans, sunflowers, groundnuts.To read more about agriculture click on agriculture of Botswana.