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Economy of Botswana vs Gambia compared: GDP & Debt

Updated on by Georank team

Botswana has a GDP of $19.4B compared to $2.51B for the Gambia, ranking 133/197 and 173/197 by economy size, respectively.

Botswana has $6.36B in government debt (43.8% of GDP), compared to $1.83B (67.5% of GDP) in the Gambia.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Botswana
GDP, current $

GDP, constant 2015 $
Gambia
GDP, current $

GDP, constant 2015 $
Year GDP
Botswana Gambia
Current $ Constant $ Current $ Constant $
1960 $30,411,414 $203,297,646 - -
1961 $32,902,613 $216,193,393 - -
1962 $35,644,957 $230,606,288 - -
1963 $38,091,843 $244,260,590 - -
1964 $41,616,348 $260,949,209 - -
1965 $45,788,696 $276,120,679 - -
1966 $51,465,655 $293,637,827 $44,212,081 $253,504,726
1967 $58,642,354 $311,034,576 $46,695,007 $253,504,726
1968 $66,248,441 $343,901,776 $41,160,066 $277,780,702
1969 $77,361,547 $395,911,433 $45,168,072 $284,546,115
1970 $96,243,234 $463,692,530 $52,296,084 $302,056,646
1971 $127,448,614 $583,423,076 $55,728,663 $301,857,660
1972 $164,460,915 $737,224,723 $59,160,569 $302,587,264
1973 $244,124,164 $894,277,062 $75,187,749 $330,577,582
1974 $306,044,208 $972,953,727 $95,796,022 $350,011,556
1975 $355,168,572 $1,055,131,835 $115,179,719 $393,389,990
1976 $372,025,093 $1,167,475,696 $112,190,829 $422,308,977
1977 $451,624,780 $1,307,713,345 $138,093,099 $436,834,615
1978 $590,407,374 $1,495,145,304 $171,833,086 $464,427,039
1979 $819,870,259 $1,676,784,361 $207,112,628 $458,258,597
1980 $1,060,889,704 $1,877,778,848 $241,083,090 $486,991,776
1981 $1,073,812,830 $2,047,996,824 $218,767,743 $503,169,127
1982 $1,014,945,696 $2,297,146,530 $216,050,552 $499,321,983
1983 $1,172,230,397 $2,599,146,161 $213,448,585 $553,664,332
1984 $1,240,822,167 $2,821,253,171 $177,340,880 $573,237,790
1985 $1,114,783,343 $3,022,275,113 $225,726,359 $568,581,582
1986 $1,392,602,164 $3,269,283,371 $185,646,987 $591,842,657
1987 $1,965,226,890 $3,657,737,272 $220,626,484 $606,368,444
1988 $2,644,554,159 $4,369,166,056 $266,672,212 $633,514,510
1989 $3,083,822,112 $4,939,753,185 $284,120,329 $670,864,764
1990 $3,790,636,324 $5,274,313,873 $317,083,695 $694,740,031
1991 $3,942,876,703 $5,667,709,608 $690,311,081 $716,325,877
1992 $4,146,464,587 $5,833,040,675 $714,254,256 $740,528,299
1993 $4,160,129,175 $5,944,807,979 $755,040,974 $762,833,762
1994 $4,259,259,604 $6,160,480,628 $746,493,952 $764,011,165
1995 $4,730,599,122 $6,593,587,690 $785,999,865 $770,748,584
1996 $4,847,757,218 $6,977,980,666 $848,239,446 $787,886,530
1997 $5,020,265,627 $7,558,959,722 $803,633,342 $826,492,963
1998 $4,790,481,509 $7,592,496,073 $840,285,265 $855,420,206
1999 $5,484,263,347 $8,326,480,944 $814,724,032 $910,167,091
2000 $5,788,329,609 $8,491,986,059 $782,913,872 $960,226,283
2001 $5,489,608,300 $8,513,264,764 $687,410,645 $1,015,919,410
2002 $5,438,863,983 $9,029,979,997 $578,235,309 $982,902,028
2003 $7,511,582,173 $9,447,697,368 $487,038,685 $1,050,427,393
2004 $8,957,467,707 $9,703,335,214 $961,900,651 $1,124,482,525
2005 $9,918,907,108 $10,145,481,816 $1,027,701,068 $1,098,037,739
2006 $9,919,158,482 $10,994,036,837 $1,054,112,488 $1,091,937,250
2007 $10,567,270,656 $11,630,872,553 $1,279,703,047 $1,125,167,625
2008 $10,730,829,116 $12,009,117,014 $1,561,766,956 $1,195,557,049
2009 $10,118,459,242 $10,310,519,328 $1,450,142,509 $1,275,249,586
2010 $12,637,273,429 $11,353,915,358 $1,543,294,927 $1,350,595,614
2011 $15,110,643,612 $12,130,342,698 $1,409,693,597 $1,240,786,190
2012 $13,907,464,500 $12,109,617,145 $1,415,004,738 $1,305,822,858
2013 $14,271,738,933 $13,454,136,660 $1,375,609,453 $1,343,336,129
2014 $15,470,088,501 $14,220,638,229 $1,229,461,721 $1,324,430,252
2015 $13,530,748,845 $13,530,748,845 $1,378,176,609 $1,378,176,609
2016 $15,082,637,184 $14,505,561,464 $1,484,578,886 $1,404,959,537
2017 $16,105,155,857 $15,102,375,175 $1,504,909,463 $1,472,715,274
2018 $17,031,943,186 $15,734,967,215 $1,670,671,328 $1,579,264,609
2019 $16,725,908,149 $16,212,015,761 $1,813,609,692 $1,677,527,292
2020 $14,960,251,611 $14,796,887,969 $1,812,170,891 $1,687,449,653
2021 $18,750,182,235 $16,560,125,448 $2,014,158,842 $1,776,141,480
2022 $20,321,150,598 $17,468,616,756 $2,204,734,527 $1,873,704,901
2023 $19,411,266,967 $18,029,021,881 $2,396,111,021 $1,963,596,061
2024 $19,400,774,882 $17,489,977,782 $2,507,519,958 $2,076,438,382

Economic indicators

Botswana Gambia
Gross domestic product
$19.4B
2024
$2.51B
2024
GDP rank
133/197
2024
173/197
2024
GDP growth
-0.05%
2023-2024
4.65%
2023-2024
GDP per capita
$7,695
2024
$909
2024
GDP per capita rank
98/197
2024
182/197
2024
GDP per capita, PPP
$20,538
2024
$3,445
2024
Government debt
$6.36B
2024
$1.83B
2024
Debt-to-GDP ratio
43.8%
2025
67.5%
2025
Government debt per person
$2,523
2024
$663
2024
Government debt per person rank
110/185
2024
157/185
2024
Average annual personal income after taxes
$4,596
2025
$753
2025
Market capitalization of domestic companies
$3.59B
2023
n/a
Income share by richest 10%
42.9%
2015
30.5%
2020
Income share by poorest 10%
1.4%
2015
2.6%
2020
Government expenditure, % of GDP
34.9%
2025
24%
2025
Consumer prices inflation
2.82%
2023-2024
11.6%
2023-2024
Central bank interest rate
1.9%
2024
17%
2023
Unemployment rate
24.4%
2024
6.48%
2023
Population
2595266
2871879

GDP per capita in Botswana vs Gambia

Botswana's GDP per capita is $7,695, ranking 98/197, compared to $909 in the Gambia, ranking 182/197. Adjusted for purchasing power (GDP per capita PPP), Botswana ranks 93rd at $20,538, while the Gambia ranks 172nd at $3,445.

Botswana
GDP per capita

GDP per capita, PPP
Gambia
GDP per capita

GDP per capita, PPP
Year Current $
Botswana Gambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $58.9 - - -
1961 $62.3 - - -
1962 $66 - - -
1963 $68.9 - - -
1964 $73.5 - - -
1965 $79.7 - - -
1966 $89.1 - $94.4 -
1967 $100.9 - $97 -
1968 $113.4 - $83.1 -
1969 $131.8 - $88.7 -
1970 $163 - $99.8 -
1971 $212.2 - $103.3 -
1972 $264.2 - $106.5 -
1973 $374 - $131.4 -
1974 $446 - $162.6 -
1975 $493 - $189.8 -
1976 $490 - $179.3 -
1977 $565 - $213.8 -
1978 $695 - $257.6 -
1979 $909 - $300 -
1980 $1,132 - $338 -
1981 $1,107 - $296 -
1982 $1,006 - $282.1 -
1983 $1,121 - $268.6 -
1984 $1,145 - $214.8 -
1985 $994 - $262.8 -
1986 $1,200 - $207.7 -
1987 $1,639 - $237 -
1988 $2,141 - $274.9 -
1989 $2,428 - $280.9 -
1990 $2,903 $5,978 $301 $1,409
1991 $2,939 $6,463 $628 $1,440
1992 $3,005 $6,614 $623 $1,462
1993 $2,929 $6,706 $635 $1,487
1994 $2,917 $6,903 $608 $1,473
1995 $3,156 $7,348 $622 $1,472
1996 $3,156 $7,728 $652 $1,489
1997 $3,194 $8,322 $600 $1,544
1998 $2,981 $8,268 $610 $1,572
1999 $3,340 $8,999 $575 $1,649
2000 $3,451 $9,187 $538 $1,731
2001 $3,206 $9,226 $460 $1,823
2002 $3,117 $9,753 $377 $1,744
2003 $4,230 $10,224 $309 $1,850
2004 $4,957 $10,596 $593 $1,979
2005 $5,391 $11,222 $616 $1,938
2006 $5,292 $12,304 $615 $1,931
2007 $5,529 $13,113 $725 $1,985
2008 $5,503 $13,526 $859 $2,088
2009 $5,083 $11,446 $775 $2,177
2010 $6,216 $12,491 $801 $2,267
2011 $7,287 $13,355 $711 $2,064
2012 $6,596 $12,475 $693 $2,065
2013 $6,667 $13,341 $654 $2,007
2014 $7,122 $15,003 $568 $1,934
2015 $6,141 $14,144 $620 $1,990
2016 $6,749 $16,228 $650 $2,013
2017 $7,105 $15,701 $643 $2,039
2018 $7,408 $15,786 $696 $2,277
2019 $7,172 $15,960 $738 $2,422
2020 $6,323 $15,292 $720 $2,531
2021 $7,808 $17,961 $782 $2,778
2022 $8,329 $19,977 $836 $3,067
2023 $7,826 $21,012 $888 $3,254
2024 $7,695 $20,538 $909 $3,445

Spending and national debt comparison

In 2024, Botswana's government spending was $6.74B, accounting for 34.9% of its GDP, while the Gambia's spent $612M, or 24% of GDP.

Debt-to-GDP ratio is 43.8% in Botswana and 67.5% in the Gambia, ranking 122/185 and 62/185, respectively.

Botswana
Government spending

Government debt
Gambia
Government spending

Government debt
Year % of GDP
Botswana Gambia
Government spending Government debt Government spending Government debt
1990 40.5% - - -
1991 42.3% - - -
1992 43.4% - - -
1993 44.2% - - -
1994 39.2% - - -
1995 38.1% - - -
1996 37.2% - - -
1997 40% - - -
1998 44.3% 12% - -
1999 41.7% 9.68% - -
2000 39.8% 8.37% 9.54% 73.3%
2001 42.9% 7.61% 9.68% 75.2%
2002 46% 8.55% 8.59% 93.9%
2003 44% 7.29% 9.3% 91.7%
2004 42% 11.3% 12.4% 81.3%
2005 35% 7.74% 12.9% 82.6%
2006 34.1% 6.32% 14% 87.3%
2007 38.3% 6.12% 11.2% 38%
2008 48% 7.77% 11.6% 39.5%
2009 54.5% 23.5% 14.4% 38.9%
2010 44.7% 27.9% 14.6% 42.9%
2011 37.4% 28.1% 16.5% 49.2%
2012 38.3% 27.3% 19.1% 49.5%
2013 34.8% 24.7% 17.2% 58.2%
2014 36.4% 23.9% 19% 71.1%
2015 39.7% 25.7% 19.6% 69.4%
2016 34.2% 22.4% 19.4% 79.3%
2017 35% 19.8% 23.6% 87%
2018 35.9% 19.8% 19% 83.6%
2019 36.4% 21.3% 23.9% 83%
2020 38.5% 24.8% 25.3% 85.9%
2021 33% 23.4% 21.5% 83.1%
2022 29.5% 21.3% 22.6% 83.9%
2023 32.3% 22.5% 23.8% 75.7%
2024 34.7% 32.8% 24.4% 72.9%
2025 34.9% 43.8% 24% 67.5%

Government deficit by year

In 2024, Botswana's government deficit, the difference between spending and revenue, was -$2B, equivalent to -10.3% of GDP. This compares to the Gambia's deficit of -$97.6M, or -3.89% of GDP.

Over the past 25 years, Botswana recorded a fiscal deficit in 16 of those years, while the Gambia ran a deficit in 23 years. On average, Botswana posted an annual deficit equal to -1.34% of GDP, compared to deficit of -2.98% of GDP for the Gambia.

Deficit/surplus
Botswana

Gambia
Year Deficit/surplus, % of GDP
Botswana Gambia
1999 6.18% -
2000 8.95% -0.09%
2001 -2.96% -2.52%
2002 -4.02% 0.06%
2003 -0.18% -1.73%
2004 1.42% -1.77%
2005 10.7% -3.33%
2006 13.7% -3.19%
2007 5.92% 0.27%
2008 -7.59% -0.45%
2009 -14.4% -1.65%
2010 -8.36% -2.93%
2011 -0.12% -3.03%
2012 0.92% -2.85%
2013 6.07% -5.11%
2014 3.88% -3.94%
2015 -5.06% -5.38%
2016 0.72% -6.22%
2017 -1.16% -4.35%
2018 -5.07% -3.92%
2019 -8.43% -2.75%
2020 -11.5% -2.37%
2021 -2.46% -4.77%
2022 -0.006% -5.01%
2023 -4.18% -3.52%
2024 -10.3% -3.89%
2025 -11.2% -1.35%

Inflation comparison by year

Over the past 29 years, Botswana has recorded an average annual inflation rate of 6.81%, compared with 6.55% in the Gambia. In 2024, inflation was 2.82% in Botswana and 11.6% in the Gambia.

Inflation
Botswana

Gambia
Year Inflation
Botswana Gambia Botswana Gambia
1996 10.1% 1.1%
1997 8.72% 2.78%
1998 6.66% 1.11%
1999 7.75% 3.81%
2000 8.6% 0.84%
2001 6.56% 4.49%
2002 8.03% 8.61%
2003 9.19% 17%
2004 6.95% 14.2%
2005 8.61% 4.84%
2006 11.6% 2.06%
2007 7.08% 5.37%
2008 12.7% 4.44%
2009 8.03% 4.56%
2010 6.95% 5.05%
2011 8.46% 4.8%
2012 7.54% 4.25%
2013 5.88% 5.7%
2014 4.4% 5.95%
2015 3.06% 6.81%
2016 2.81% 7.23%
2017 3.31% 8.03%
2018 3.24% 6.52%
2019 2.77% 7.12%
2020 1.89% 5.93%
2021 7.24% 7.37%
2022 11.7% 11.5%
2023 5.07% 17%
2024 2.82% 11.6%

Top exports between countries

Botswana
Export category Export value
Chemicals & pharma $1K
Miscellaneous $1K
Textiles & consumer goods $1K
Gambia
Export category Export value
Raw materials & minerals $38K
Textiles & consumer goods $2K

Balance of trade

Botswana Gambia
Current account balance
-$821M
2024
-$74.4M
2024
Current account balance ranking
116/189
2024
84/189
2024
Current account balance, % of GDP
-4.23%
2024
-2.97%
2024
Goods imports
$6.86B
2024
$1.39B
2024
Goods exports
$4.66B
2024
$363M
2024
Service imports
$1.29B
2024
$161M
2024
Service exports
$935M
2024
$475M
2024
Imports of goods and services, % of GDP
40.9%
2024
37.2%
2024
Exports of goods and services, % of GDP
26%
2024
6.55%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Botswana Gambia
Economic freedom 69.9 56.8
Economic freedom ranking 36/197 116/197
Property rights 74.1 55
Government integrity 60.1 39.5
Judicial effectiveness 70.5 45.2
Tax burden 84.9 79.3
Government spending 70.8 84.8
Fiscal health 90.4 56.9
Business freedom 70.6 50.6
Labor freedom 60.7 48
Monetary freedom 68.3 55.7
Trade freedom 78.8 66.8
Investment freedom 50 50
Financial freedom 60 50

Economic freedom by year comparison

The Economic Freedom Index for Botswana is 69.9, ranking 36/197, compared to 56.8 for the Gambia, ranking 116/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Botswana
Gambia
Year Economic freedom index
Botswana Gambia
1995 56.8 -
1996 61.6 -
1997 59.1 52.9
1998 62.8 53.4
1999 62.9 52.1
2000 65.8 52.7
2001 66.8 56.6
2002 66.2 57.7
2003 68.6 56.3
2004 69.9 55.3
2005 69.3 56.5
2006 68.8 57.3
2007 68.1 57.7
2008 68.2 56.9
2009 69.7 55.8
2010 70.3 55.1
2011 68.8 57.4
2012 69.6 58.8
2013 70.6 58.8
2014 72 59.5
2015 69.8 57.5
2016 71.1 57.1
2017 70.1 53.4
2018 69.9 52.3
2019 69.5 52.4
2020 69.6 56.3
2021 67.6 58.8
2022 64.8 58
2023 64.9 57.9
2024 68 58.2
2025 69.9 56.8

More economic indicators

Botswana Gambia
Services, % of GDP
63.5%
2024
53.9%
2024
Industry, % of GDP
29.4%
2024
14.7%
2024
Agriculture, forestry, and fishing, % of GDP
1.71%
2024
24.1%
2024
GNI, Atlas method
$19.5B
2024
$2.46B
2024
GNI per capita, PPP
$20,570
2024
$3,400
2024
Total reserves including gold
$3.46B
2024
$629M
2024
Total reserves ranking
113/177
2024
151/177
2024
Net foreign direct investment
-$464M
2024
-$232M
2024
Net inflows of foreign direct investment
$467M
2024
$232M
2024
Net outflows of foreign direct investment
$3.02M
2024
-$665K
2024
Servicing debt to the IMF, % of GNI
1.28%
2023
2.33%
2023
Poverty at national poverty lines
16.1%
2015
53.4%
2020
Gross capital formation, % of GDP
36.2%
2024
39%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.