Economy undergoes structural shift

Friday, October 17, 2014

The structure of the economy has shifted from mining to services but this will pose a balance of trade problem if diversification of exports continues to lag behind that of Gross Domestic Product (GDP), a renowned economic analyst believes.

According to prominent economist Keith Jefferies, the Botswana economy has now reached a relatively diversified position in terms of GDP but diamonds still precariously dominate exports.

Latest statistics show that the economy is now diversified in production terms with mining’s contribution to GDP having fallen to 26 percent from over 50 percent twenty years ago.

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Economy undergoes structural shift

The structure of the economy has shifted from mining to services but this will pose a balance of trade problem if diversification of exports continues to lag behind that of Gross Domestic Product (GDP), a renowned economic analyst believes.

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