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GDP records annual growth of 6.4 percent in the first quarter of 2011

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The Central Statistics Office (CSO; Statistics Botswana) has released provisional estimates for gross domestic product (GDP) in the first quarter of 2011. These indicate that, quarter-on quarter, the economy contracted by 2.2 percent, mainly due to lower output in the mining (by 4.2 percent),  financial and business services (by 6.1 percent) and general government sectors (by 7.6 percent). However, and an annual basis the economy grew by 6.4 percent, reflecting continued expansion of both the mining and non-mining sectors. Mining grew by 7.2 percent, while there was also strong growth in agriculture (10.9 percent), construction (25.8 percent) and transport and communication (12.6 percent). In line with the rapid growth in the construction sector, gross fixed capital formation (GFCF) grew by 22.8 percent.


    

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