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• GDP: US$11 billion (2005).
• Main imports: Food, electrical goods, petroleum products and wood and paper products.
• Main exports: Diamonds, copper, nickel, beef and textiles.
• Main trade partners: European Free Trade Association (EFTA), and other members of the Southern African Customs Union.
• Main imports: Food, electrical goods, petroleum products and wood and paper products.
• Main exports: Diamonds, copper, nickel, beef and textiles.
• Main trade partners: European Free Trade Association (EFTA), and other members of the Southern African Customs Union.
Economy
As a key foreign exchange earner, livestock farming is the most important part of Botswana’s agricultural sector; in addition, there is substantial subsistence agriculture. Botswana is economically closely connected to South Africa and is a member of the Southern African Customs Union (SACU). It also hosts the Southern African Development Conference, which is the principal mechanism for economic co-operation.
Prudent management and the successful development of new mineral resources have afforded Botswana healthy economic growth of around 5% since the late 1990s. But the vulnerability of the agricultural sector to bad weather and commodity price fluctuations have led the government to seek to develop a service sector. The country is particularly trying to reduce its economic dependence on diamonds and instead focus on high-revenue-producing upmarket safari tourism.
However, the HIV/AIDS epidemic, which is extremely serious in Botswana and mainly afflicts the productive, young and middle-aged population, is starting to have a negative effect on the country’s economy.
Prudent management and the successful development of new mineral resources have afforded Botswana healthy economic growth of around 5% since the late 1990s. But the vulnerability of the agricultural sector to bad weather and commodity price fluctuations have led the government to seek to develop a service sector. The country is particularly trying to reduce its economic dependence on diamonds and instead focus on high-revenue-producing upmarket safari tourism.
However, the HIV/AIDS epidemic, which is extremely serious in Botswana and mainly afflicts the productive, young and middle-aged population, is starting to have a negative effect on the country’s economy.
Business Etiquette
Lightweight suits should be worn.
Office hours: Mon-Fri 0800-1700 April-October; 0730-1630 October-April.
Government office hours: 0730-1630 all year round.
Office hours: Mon-Fri 0800-1700 April-October; 0730-1630 October-April.
Government office hours: 0730-1630 all year round.
Business Contacts
Botswana Export Development & Investment Authority (BEDIA)
Plot 28, Matsitama Road, The Main Mall, Gaborone, Botswana
Tel: 318 1931.
Website: www.bedia.co.bw
Plot 28, Matsitama Road, The Main Mall, Gaborone, Botswana
Tel: 318 1931.
Website: www.bedia.co.bw