Botswana registered the utmost economic growth after independence. The economic has increased at 9% every year after the independence due to the economic reforms handled by the government.
The main reason for these drastic increases in the economy of Botswana is the surplus funds in the budgets and the foreign exchanges figures are highly impressive in the Botswana economy. The main reason for the flourishing foreign investment is the diamond mining in Botswana.
Botswana is one of the very few countries which have strong economy among the African countries. Most of the African countries are at the top position in list of corrupted countries, but to your surprise Botswana is at
bottom position and it is only one African country at the bottom of the list.
The GDP of the Botswana economy is $26 million; it may be low compare to the global GDP rate, but still this one of the best GDP among the African countries.
The major contributors to economy of Botswana is the industrial sector which accounts more than 50% and in that 50% the main contributor was mining industry which accounts for 40% almost.
Still agriculture being the major occupation in Botswana, nearly one third of population actively involved in agriculture. Livestock farming is the major player to contribute towards the economy of Botswana and it is followed by the subsistence crops sorghum, corn and millet.
Agricultural sector contributes nearly $10 million to the Botswana GDP and nearly $5 million came from livestock, cattle rearing.
Private and foreign direct investment
Private sector investments have been grown rapidly in the recent years in the mining industry. Foreign direct investment is highly encouraged by the government of Botswana. Apart from these two ways of generating revenue to the Botswana economy there are other areas such as tourism and financial sector. Tourism accounts for nearly 8% to the GDP of Botswana economy.