Non-mining leads marginal GDP recovery

Slow down: Mining’s Q1 performance was dampened by lower gold and diamond production PIC: DEBSWANA.COM
Slow down: Mining’s Q1 performance was dampened by lower gold and diamond production PIC: DEBSWANA.COM

The economy’s trajectory turned positive for the first time in nine months, recording a marginal 0.7 percent growth for the first quarter of 2021 led by the non-mining sector. Statistics Botswana figures released last week indicate that real Gross Domestic Product (GDP), a measure of economic activity, recorded a positive turn in the first quarter, after rolling contractions dating back to the second quarter of 2020.

Analysts said the first-quarter growth, while positive, was far below the required recovery to restore the economy to its pre-pandemic path after it contracted by 7.9 percent last year.

Statistics Botswana figures show that the marginal recovery in the first quarter was led by growth in sectors such as diamond trading, water and electricity, wholesale and retail, finance and insurance as well as professional, scientific and technical services.

Editor's Comment
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