The economy of Botswana advanced 3.1% year-on-year in the second quarter of 2019, slowing from a 4.3% growth in the prior period. It was the weakest expansion since the second quarter of 2017, mainly hit by mining (-7.9% vs 3.3% in Q1), namely diamonds (-8.4%), as planned plant maintenance shutdown in April 2019 caused a 23% slump in production of the world's largest diamond mine Orapa. Also, declines were seen for coal output (-6.3%) and agriculture (-0.4% vs 2.6%). Meantime, growth slowed in manufacturing (3.5% vs 4.1%); transport & communication (5.5% vs 5.9%); social & personal services (3.1% vs 3.6%) and water & electricity (3.1% vs 3.8%). Conversely, activity continued to increase significantly in finance & business services (5.8% vs 5.3%); trade,hotels & restaurants (5.7%, the same pace as in Q1); general government (4% vs 3.1%) and construction (3% vs 2.7%). On a quarterly basis, the GDP rose 1.4%, recovering from a 1.5% contraction in the previous quarter. GDP Annual Growth Rate in Botswana averaged 4.62 percent from 1995 until 2019, reaching an all time high of 18.20 percent in the fourth quarter of 2002 and a record low of -10.40 percent in the third quarter of 2009.
GDP Annual Growth Rate in Botswana is expected to be 4.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Botswana to stand at 4.30 in 12 months time. In the long-term, the Botswana GDP Annual Growth Rate is projected to trend around 5.00 percent in 2020, according to our econometric models.