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Economy of Botswana vs Kuwait compared: GDP & Debt

Updated on by Georank team

Botswana has a GDP of $19.4B compared to $160B for Kuwait, ranking 133/197 and 59/197 by economy size, respectively.

Botswana has $5.82B in government debt (30% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Botswana vs Kuwait GDP by year

Botswana
Kuwait
1x
Year GDP, current $
Botswana Kuwait
2024 $19,402,063,513 $160,227,273,053
2023 $19,411,266,967 $165,384,407,116
2022 $20,321,150,599 $183,502,046,694
2021 $18,750,182,236 $148,350,671,489
2020 $14,960,251,608 $111,045,470,606
2019 $16,725,908,149 $140,856,394,861
2018 $17,031,943,186 $138,646,316,351
2017 $16,105,155,857 $120,687,539,806
2016 $15,082,637,184 $109,406,674,125
2015 $13,530,748,845 $114,585,555,689
2014 $15,470,088,501 $162,650,450,685
2013 $14,271,738,933 $174,168,116,535
2012 $13,907,464,500 $174,047,662,680
2011 $15,110,643,612 $154,039,231,246
2010 $12,637,273,429 $115,416,245,242
2009 $10,118,459,242 $105,968,691,905
2008 $10,730,829,116 $147,379,737,230
2007 $10,567,270,656 $114,634,043,362
2006 $9,919,158,482 $101,557,330,723
2005 $9,918,907,108 $80,798,630,137
2004 $8,957,467,707 $59,439,090,601
2003 $7,511,582,173 $47,874,582,232
2002 $5,438,863,983 $38,135,788,414
2001 $5,489,608,300 $34,889,559,870
2000 $5,788,329,609 $37,718,743,480
1999 $5,484,263,347 $30,122,365,849
1998 $4,790,481,509 $25,943,705,784
1997 $5,020,265,627 $30,350,190,704
1996 $4,847,757,218 $31,492,373,309
1995 $4,730,599,122 $27,186,980,647
1994 $4,259,259,604 $24,848,483,838
1993 $4,160,129,175 $23,941,391,391
1992 $4,146,464,587 $19,858,555,215
1991 $3,942,876,703 $11,009,993,703
1990 $3,790,636,324 $18,427,777,778
1989 $3,083,822,112 $24,313,855,653
1988 $2,644,554,159 $20,690,322,153
1987 $1,965,226,890 $22,368,704,134
1986 $1,392,602,164 $17,903,989,745
1985 $1,114,783,343 $21,445,970,614
1984 $1,240,822,167 $21,700,082,753
1983 $1,172,230,397 $20,871,081,080
1982 $1,014,945,696 $21,577,153,356
1981 $1,073,812,830 $25,058,020,338
1980 $1,060,889,704 $28,638,868,356
1979 $819,870,259 $24,749,063,922
1978 $590,407,374 $15,503,557,496
1977 $451,624,780 $14,137,406,741
1976 $372,025,093 $13,132,252,802
1975 $355,168,572 $12,022,811,621
1974 $306,044,208 $13,006,948,296
1973 $244,124,164 $5,408,804,607
1972 $164,460,915 $4,450,537,925
1971 $127,448,614 $3,880,392,195
1970 $96,243,234 $2,873,638,851
1969 $77,361,547 $2,769,198,892
1968 $66,248,441 $2,662,798,935
1967 $58,642,354 $2,441,599,023
1966 $51,465,655 $2,391,199,044
1965 $45,788,696 $2,097,199,161
1964 $41,616,348 $2,071,668,533
1963 $38,091,843 $1,900,895,857
1962 $35,644,957 $1,828,107,503
1961 $32,902,613 -
1960 $30,411,414 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/botswana/kuwait | CC BY

GDP per capita in Botswana vs Kuwait by year

Botswana
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Botswana Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,696 $20,538 $32,718 $52,444
2023 $7,826 $21,012 $34,076 $53,025
2022 $8,329 $19,977 $39,982 $55,043
2021 $7,808 $17,961 $34,019 $50,652
2020 $6,323 $15,292 $25,236 $41,462
2019 $7,172 $15,960 $31,708 $50,703
2018 $7,408 $15,786 $32,068 $51,371
2017 $7,105 $15,701 $29,048 $46,566
2016 $6,749 $16,228 $27,324 $41,862
2015 $6,141 $14,144 $29,882 $45,267
2014 $7,122 $15,003 $44,369 $68,337
2013 $6,667 $13,621 $49,651 $76,813
2012 $6,596 $12,737 $52,155 $82,090
2011 $7,287 $13,635 $49,170 $79,037
2010 $6,216 $12,753 $39,212 $75,184
2009 $5,083 $11,686 $37,907 $80,110
2008 $5,503 $13,810 $55,585 $90,337
2007 $5,529 $13,389 $45,709 $91,435
2006 $5,292 $12,563 $42,947 $89,075
2005 $5,391 $11,458 $36,123 $84,968
2004 $4,957 $10,818 $27,552 $77,227
2003 $4,230 $10,439 $22,691 $69,752
2002 $3,117 $9,958 $18,513 $59,713
2001 $3,206 $9,420 $17,374 $58,553
2000 $3,451 $9,380 $19,296 $58,703
1999 $3,340 $9,188 $15,854 $56,406
1998 $2,981 $8,441 $14,067 $58,344
1997 $3,194 $8,497 $16,977 $57,420
1996 $3,156 $7,890 $18,201 $56,913
1995 $3,156 $7,503 $16,168 $57,163
1994 $2,917 $7,049 $14,930 $53,946
1993 $2,929 $6,847 $14,318 $48,482
1992 $3,005 $6,753 $12,146 $36,149
1991 $2,939 $6,598 $8,147 $23,390
1990 $2,903 $6,104 $10,938 $30,763
1989 $2,428 - $10,965 -
1988 $2,141 - $9,692 -
1987 $1,639 - $10,896 -
1986 $1,200 - $9,077 -
1985 $994 - $11,322 -
1984 $1,145 - $11,919 -
1983 $1,121 - $11,965 -
1982 $1,006 - $12,979 -
1981 $1,107 - $15,825 -
1980 $1,132 - $19,032 -
1979 $909 - $17,386 -
1978 $695 - $11,567 -
1977 $565 - $11,238 -
1976 $490 - $11,141 -
1975 $493 - $10,882 -
1974 $446 - $12,527 -
1973 $374 - $5,532 -
1972 $264.2 - $4,836 -
1971 $212.2 - $4,486 -
1970 $163 - $3,552 -
1969 $131.8 - $3,695 -
1968 $113.4 - $3,872 -
1967 $100.9 - $3,887 -
1966 $89.1 - $4,176 -
1965 $79.7 - $4,024 -
1964 $73.5 - $4,379 -
1963 $68.9 - $4,445 -
1962 $66 - $4,748 -
1961 $62.3 - - -
1960 $58.9 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/botswana/kuwait | CC BY

Botswana's GDP per capita is $7,696, ranking 97/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), Botswana ranks 95th at $20,538, while Kuwait ranks 40th at $52,444.

Economic indicators

Botswana Kuwait
Gross domestic product
$19.4B
2024
$160B
2024
GDP rank
133/197
2024
59/197
2024
GDP growth
-2.99%
2023-2024
-2.56%
2023-2024
GDP per capita
$7,696
2024
$32,718
2024
GDP per capita rank
97/197
2024
37/197
2024
GDP per capita, PPP
$20,538
2024
$52,444
2024
GDP per capita PPP rank
95/197
2024
40/197
2024
Government debt
$5.82B
2024
$4.68B
2024
Debt-to-GDP ratio
30%
2024
2.92%
2024
Government debt per person
$2,310
2024
$956
2024
Government debt per person rank
114/185
2024
143/185
2024
Average annual personal income after taxes
$5,271
2026
$23,828
2026
Market capitalization of domestic companies
$3.59B
2023
$141B
2024
Income share by richest 10%
42.9%
2015
n/a
Income share by poorest 10%
1.4%
2015
n/a
Government expenditure, % of GDP
33.8%
2024
50.4%
2024
Consumer prices inflation
2.82%
2023-2024
2.9%
2023-2024
Central bank interest rate
1.9%
2024
3.5%
2025
Unemployment rate
24.4%
2024
2.16%
2016
Population
2615162
5100145

Spending and national debt comparison by year

Botswana
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Botswana Kuwait
Government spending Government debt Government spending Government debt
2024 33.8% 30% 50.4% 2.92%
2023 32.4% 22.5% 48.3% 3.13%
2022 29.5% 21.3% 39.6% 2.95%
2021 33% 23.4% 48.3% 7.2%
2020 38.5% 24.8% 62.9% 10.2%
2019 36.4% 21.3% 50.3% 10.5%
2018 35.9% 19.8% 51.1% 14.3%
2017 35% 19.8% 51.9% 19.6%
2016 34.2% 22.4% 54.1% 9.88%
2015 39.7% 25.7% 55.4% 4.6%
2014 36.4% 23.9% 45% 3.43%
2013 34.8% 24.7% 38.4% 3.09%
2012 38.3% 27.3% 38.2% 3.6%
2011 37.4% 28.1% 39.7% 4.64%
2010 44.7% 27.9% 45.5% 6.16%
2009 54.5% 23.5% 42.9% 6.65%
2008 48% 7.77% 40.9% 5.38%
2007 38.3% 6.12% 30.4% 7.05%
2006 34.1% 6.32% 32.3% 7.79%
2005 35% 7.74% 28.8% 10.2%
2004 42% 11.3% 35.3% 13.9%
2003 44% 7.29% 38.2% 17.2%
2002 46% 8.55% 42.8% 21.3%
2001 42.9% 7.61% 41.4% 23%
2000 39.8% 8.37% 29.9% 21.4%
1999 41.7% 9.68% 44.5% 25.5%
1998 44.3% 12% 51.7% 25.6%
1997 40% - 43.8% 24.3%
1996 37.2% - 42.8% 26.5%
1995 38.1% - 52% 34.9%
1994 39.2% - 57.8% 37.7%
1993 44.2% - 58.2% 28.8%
1992 43.4% - 77.6% 27.9%
1991 42.3% - 208.9% 45.3%
1990 40.5% - 122.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/botswana/kuwait | CC BY

In 2024, Botswana's government spending was $6.55B, accounting for 33.8% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 30% in Botswana and 2.92% in Kuwait, ranking 158/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Botswana

Kuwait
1x
Year Deficit/surplus, % of GDP
Botswana Kuwait
2024 -7.82% 23.8%
2023 -4.25% 28.2%
2022 -0.006% 30%
2021 -2.46% 9.98%
2020 -11.5% 0.14%
2019 -8.43% 13%
2018 -5.07% 17.5%
2017 -1.16% 15.3%
2016 0.72% 13.1%
2015 -5.06% 16.6%
2014 3.88% 30%
2013 6.07% 40.6%
2012 0.92% 40.7%
2011 -0.12% 38.8%
2010 -8.36% 31.9%
2009 -14.4% 31.3%
2008 -7.59% 21.3%
2007 5.92% 37.1%
2006 13.7% 28%
2005 10.7% 38.9%
2004 1.42% 32.5%
2003 -0.18% 27.2%
2002 -4.02% 31%
2001 -2.96% 45.2%
2000 8.95% 52.5%
1999 6.18% 28.2%
1998 - 19.5%
1997 - 29.5%
1996 - 24.3%
1995 - 11.7%
1994 - 1.76%
1993 - -3.12%
1992 - -28.1%
1991 - -145%
1990 - -50%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/botswana/kuwait | CC BY

In 2024, Botswana's government deficit, the difference between spending and revenue, was $1.52B, equivalent to 7.82% of GDP. This compares to Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 26 years, Botswana recorded a fiscal deficit in 16 of those years, while Kuwait ran a deficit in 0 years. On average, Botswana posted an annual deficit equal to 0.96% of GDP, compared to surplus of 27.8% of GDP for Kuwait.

Inflation comparison by year

Inflation
Botswana

Kuwait
1x
Year Consumer prices inflation
Botswana Kuwait
2024 2.82% 2.9%
2023 5.07% 3.64%
2022 11.7% 3.98%
2021 7.24% 3.42%
2020 1.89% 2.1%
2019 2.77% 1.09%
2018 3.24% 0.54%
2017 3.31% 2.17%
2016 2.81% 3.2%
2015 3.06% 3.27%
2014 4.4% 2.91%
2013 5.88% 2.68%
2012 7.54% 3.26%
2011 8.46% 4.84%
2010 6.95% 4.5%
2009 8.03% 4.61%
2008 12.7% 10.6%
2007 7.08% 5.48%
2006 11.6% 3.06%
2005 8.61% 4.14%
2004 6.95% 1.25%
2003 9.19% 0.96%
2002 8.03% 0.89%
2001 6.56% 1.3%
2000 8.6% 1.81%
1999 7.75% 2.99%
1998 6.66% 0.13%
1997 8.72% 0.68%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/botswana/kuwait | CC BY

Over the past 28 years, Botswana has recorded an average annual inflation rate of 6.7%, compared with 2.94% in Kuwait. In 2024, inflation was 2.82% in Botswana and 2.9% in Kuwait.

Top exports between countries

Botswana
Export category Export value
Animal & marine products $371K
Machinery & equipment $10K
Miscellaneous $1K
Textiles & consumer goods $1K
Kuwait
Export category Export value
Miscellaneous $1K

Balance of trade

Botswana Kuwait
Current account balance
-$821M
2024
$46.7B
2024
Current account balance ranking
118/190
2024
15/190
2024
Current account balance, % of GDP
-4.23%
2024
+29.1%
2024
Goods imports
$6.86B
2024
$33.4B
2024
Goods exports
$4.66B
2024
$77.5B
2024
Service imports
$1.29B
2024
$28.1B
2024
Service exports
$935M
2024
$12.2B
2024
Imports of goods and services, % of GDP
43.7%
2024
38.3%
2023
Exports of goods and services, % of GDP
27.4%
2024
57.7%
2023

Economic freedom indices

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

Botswana Kuwait
Economic freedom 67.7 59.9
Economic freedom ranking 53/197 100/197
Property rights 71.7 42
Government integrity 59.6 47.9
Judicial effectiveness 70.2 43.4
Tax burden 87.1 97.7
Government spending 69.8 36.2
Fiscal health 72.4 99.9
Business freedom 61.5 57.4
Labor freedom 60.7 49.2
Monetary freedom 72 68.7
Trade freedom 77 75.8
Investment freedom 50 50
Financial freedom 60 50

Economic freedom comparison by year

Botswana
Kuwait
1x
Year Economic freedom index
Botswana Kuwait
2026 67.7 59.9
2025 69.9 59.9
2024 68 58.5
2023 64.9 56.7
2022 64.8 58.3
2021 67.6 64.1
2020 69.6 63.2
2019 69.5 60.8
2018 69.9 62.2
2017 70.1 65.1
2016 71.1 62.7
2015 69.8 62.5
2014 72 62.3
2013 70.6 63.1
2012 69.6 62.5
2011 68.8 64.9
2010 70.3 67.7
2009 69.7 65.6
2008 68.2 68.1
2007 68.1 66.4
2006 68.8 66.5
2005 69.3 64.6
2004 69.9 63.6
2003 68.6 66.7
2002 66.2 65.4
2001 66.8 68.2
2000 65.8 69.7
1999 62.9 69.5
1998 62.8 66.3
1997 59.1 64.8
1996 61.6 66.1
1995 56.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/botswana/kuwait | CC BY

The Economic Freedom Index for Botswana is 67.7, ranking 53/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Botswana Kuwait
Services, % of GDP
63.5%
2024
55.9%
2024
Industry, % of GDP
29.4%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
1.71%
2024
0.49%
2024
GNI, Atlas method
$19.5B
2024
$200B
2024
GNI per capita, PPP
$20,570
2024
$63,270
2024
Total reserves including gold
$3.46B
2024
$50.7B
2024
Total reserves ranking
113/177
2024
41/177
2024
Net foreign direct investment
-$464M
2024
$9.71B
2024
Net inflows of foreign direct investment
$467M
2024
$615M
2024
Net outflows of foreign direct investment
$3.02M
2024
$10.3B
2024
Servicing debt to the IMF, % of GNI
1.42%
2024
n/a
Poverty at national poverty lines
16.1%
2015
n/a
Gross capital formation, % of GDP
36%
2024
17.7%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/botswana/kuwait | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.