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Botswana Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
2,249,104 (July 2018 est.)GDP (PPP)
$39.01 billion (2017 est.)Diamond mining accounts for one-quarter of GDP, approximately 85% of export earnings, and about one-third of the government's revenues.
GDP growth rate
2.4% (2017 est.)After a stellar performance from 1966 to 2008, Botswana grew modestly until 2017, primarily due to a downturn in the global diamond market.
GDP (PPP) per capita
$17,000 (2017 est.)Botswana is now considered a middle-income country with one of the best economies in Africa, though the high percentage of people living with HIV/AIDS (22%) is a drag on living conditions.
Local currency
Botswana pula (BWP)The currency lost almost 50% of its value from 2011 to 2016. Since then, it has remained stable.
Financial stability (Public debt)
14% of GDP (2017 est.)Sound fiscal discipline and foreign exchange reserves at 45% of GDP make Botswana's financial stability strong
Inflation
3.3% (2017 est.)Medium
Language
Setswana 77.3%, Sekalanga 7.4%, Shekgalagadi 3.4%, English (official) 2.8%English is the official language but it is spoken a second language by most of the population
Corruption perception index (Source: Transparency International)
34/180Medium level of corruption but among the lowest in Africa
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
12%VAT is imposed on taxable supplies and the importation of goods into Botswana.
Corporate Tax
22%Eligible manufacturing companies and financial services companies are taxed at 15%. Mining companies may be taxed at a higher rate than the standard 22%.
Duties
N/ACustoms and excise duties are charged on importation of goods (including currencies) into or exported out of Botswana. No duties are charged on trade between Botswana and South Africa, Lesotho, Namibia, and Swaziland (Southern African Customs Union).
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