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Economy of Botswana vs Luxembourg compared: GDP & Debt

Updated on by Georank team

Botswana has a GDP of $19.4B compared to $93.3B for Luxembourg, ranking 133/197 and 74/197 by economy size, respectively.

Botswana has $5.82B in government debt (30% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Botswana vs Luxembourg GDP by year

Botswana
Luxembourg
1x
Year GDP, current $
Botswana Luxembourg
2024 $19,402,063,513 $93,279,851,863
2023 $19,411,266,967 $88,788,881,539
2022 $20,321,150,599 $80,801,680,397
2021 $18,750,182,236 $86,386,759,695
2020 $14,960,251,608 $73,670,782,100
2019 $16,725,908,149 $69,872,035,114
2018 $17,031,943,186 $71,085,623,495
2017 $16,105,155,857 $65,712,180,343
2016 $15,082,637,184 $62,216,885,436
2015 $13,530,748,845 $60,071,584,216
2014 $15,470,088,501 $68,804,811,898
2013 $14,271,738,933 $65,203,276,467
2012 $13,907,464,500 $59,776,383,527
2011 $15,110,643,612 $61,696,281,326
2010 $12,637,273,429 $56,213,985,987
2009 $10,118,459,242 $54,467,289,898
2008 $10,730,829,116 $58,844,277,702
2007 $10,567,270,656 $51,587,401,416
2006 $9,919,158,482 $42,910,146,296
2005 $9,918,907,108 $37,672,280,120
2004 $8,957,467,707 $35,064,843,793
2003 $7,511,582,173 $29,667,268,248
2002 $5,438,863,983 $23,649,833,332
2001 $5,489,608,300 $21,387,533,703
2000 $5,788,329,609 $21,230,182,989
1999 $5,484,263,347 $21,899,317,599
1998 $4,790,481,509 $20,150,053,345
1997 $5,020,265,627 $19,563,836,265
1996 $4,847,757,218 $20,895,314,658
1995 $4,730,599,122 $20,853,093,870
1994 $4,259,259,604 $17,701,798,891
1993 $4,160,129,175 $15,925,521,222
1992 $4,146,464,587 $15,518,702,635
1991 $3,942,876,703 $13,834,219,728
1990 $3,790,636,324 $12,778,792,854
1989 $3,083,822,112 $10,037,674,038
1988 $2,644,554,159 $9,418,167,855
1987 $1,965,226,890 $8,320,902,215
1986 $1,392,602,164 $6,685,595,088
1985 $1,114,783,343 $4,577,211,767
1984 $1,240,822,167 $4,438,435,493
1983 $1,172,230,397 $4,524,217,751
1982 $1,014,945,696 $4,602,316,793
1981 $1,073,812,830 $5,053,665,797
1980 $1,060,889,704 $6,019,805,490
1979 $819,870,259 $5,516,982,664
1978 $590,407,374 $4,718,539,772
1977 $451,624,780 $3,789,321,328
1976 $372,025,093 $3,423,586,207
1975 $355,168,572 $3,123,333,333
1974 $306,044,208 $3,183,637,117
1973 $244,124,164 $2,609,875,802
1972 $164,460,915 $1,901,697,370
1971 $127,448,614 $1,518,773,421
1970 $96,243,234 $1,457,768,455
1969 $77,361,547 $1,245,432,991
1968 $66,248,441 $1,075,561,623
1967 $58,642,354 $983,052,315
1966 $51,465,655 $976,717,015
1965 $45,788,696 $929,477,285
1964 $41,616,348 $910,877,686
1963 $38,091,843 $797,902,154
1962 $35,644,957 $747,846,862
1961 $32,902,613 $710,163,719
1960 $30,411,414 $709,941,874

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

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

GDP per capita in Botswana vs Luxembourg by year

Botswana
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Botswana Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,696 $20,538 $137,782 $155,941
2023 $7,826 $21,012 $133,231 $150,508
2022 $8,329 $19,977 $123,720 $146,919
2021 $7,808 $17,961 $134,966 $136,772
2020 $6,323 $15,292 $116,860 $122,067
2019 $7,172 $15,960 $112,697 $121,372
2018 $7,408 $15,786 $116,927 $116,638
2017 $7,105 $15,701 $110,193 $114,986
2016 $6,749 $16,228 $106,899 $113,365
2015 $6,141 $14,144 $105,462 $107,860
2014 $7,122 $15,003 $123,679 $105,296
2013 $6,667 $13,621 $120,000 $100,925
2012 $6,596 $12,737 $112,585 $96,636
2011 $7,287 $13,635 $119,025 $94,475
2010 $6,216 $12,753 $110,886 $90,336
2009 $5,083 $11,686 $109,420 $86,919
2008 $5,503 $13,810 $120,422 $90,971
2007 $5,529 $13,389 $107,475 $85,126
2006 $5,292 $12,563 $90,789 $78,861
2005 $5,391 $11,458 $80,988 $68,788
2004 $4,957 $10,818 $76,545 $64,686
2003 $4,230 $10,439 $65,689 $60,192
2002 $3,117 $9,958 $53,006 $58,576
2001 $3,206 $9,420 $48,440 $56,136
2000 $3,451 $9,380 $48,660 $55,136
1999 $3,340 $9,188 $50,872 $49,845
1998 $2,981 $8,441 $47,445 $44,270
1997 $3,194 $8,497 $46,642 $42,488
1996 $3,156 $7,890 $50,444 $39,722
1995 $3,156 $7,503 $51,032 $38,345
1994 $2,917 $7,049 $43,933 $37,551
1993 $2,929 $6,847 $40,067 $35,899
1992 $3,005 $6,753 $39,571 $34,108
1991 $2,939 $6,598 $35,747 $33,191
1990 $2,903 $6,104 $33,465 $29,949
1989 $2,428 - $26,618 -
1988 $2,141 - $25,219 -
1987 $1,639 - $22,443 -
1986 $1,200 - $18,150 -
1985 $994 - $12,482 -
1984 $1,145 - $12,127 -
1983 $1,121 - $12,374 -
1982 $1,006 - $12,591 -
1981 $1,107 - $13,837 -
1980 $1,132 - $16,531 -
1979 $909 - $15,204 -
1978 $695 - $13,034 -
1977 $565 - $10,486 -
1976 $490 - $9,491 -
1975 $493 - $8,701 -
1974 $446 - $8,967 -
1973 $374 - $7,447 -
1972 $264.2 - $5,487 -
1971 $212.2 - $4,435 -
1970 $163 - $4,298 -
1969 $131.8 - $3,690 -
1968 $113.4 - $3,203 -
1967 $100.9 - $2,935 -
1966 $89.1 - $2,925 -
1965 $79.7 - $2,804 -
1964 $73.5 - $2,779 -
1963 $68.9 - $2,462 -
1962 $66 - $2,332 -
1961 $62.3 - $2,241 -
1960 $58.9 - $2,261 -

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

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

Botswana's GDP per capita is $7,696, ranking 97/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Botswana ranks 95th at $20,538, while Luxembourg ranks 1st at $155,941.

Economic indicators

Botswana Luxembourg
Gross domestic product
$19.4B
2024
$93.3B
2024
GDP rank
133/197
2024
74/197
2024
GDP growth
-2.99%
2023-2024
0.36%
2023-2024
GDP per capita
$7,696
2024
$137,782
2024
GDP per capita rank
97/197
2024
3/197
2024
GDP per capita, PPP
$20,538
2024
$155,941
2024
GDP per capita PPP rank
95/197
2024
1/197
2024
Government debt
$5.82B
2024
$24.5B
2024
Debt-to-GDP ratio
30%
2024
26.3%
2024
Government debt per person
$2,310
2024
$36,221
2024
Government debt per person rank
114/185
2024
19/185
2024
Average annual personal income after taxes
$5,271
2026
$69,593
2026
Market capitalization of domestic companies
$3.59B
2023
$41.9B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
42.9%
2015
25%
2023
Income share by poorest 10%
1.4%
2015
2.8%
2023
Government expenditure, % of GDP
33.8%
2024
46.9%
2024
Consumer prices inflation
2.82%
2023-2024
2.05%
2023-2024
Central bank interest rate
1.9%
2024
n/a
Unemployment rate
24.4%
2024
6.42%
2024
Population
2615162
693885

Spending and national debt comparison by year

Botswana
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Botswana Luxembourg
Government spending Government debt Government spending Government debt
2024 33.8% 30% 46.9% 26.3%
2023 32.4% 22.5% 46.4% 24.7%
2022 29.5% 21.3% 44.3% 24.9%
2021 33% 23.4% 42.4% 24.2%
2020 38.5% 24.8% 47% 24.5%
2019 36.4% 21.3% 43.1% 22.3%
2018 35.9% 19.8% 42.3% 20.9%
2017 35% 19.8% 41.3% 21.8%
2016 34.2% 22.4% 40% 19.6%
2015 39.7% 25.7% 40.4% 21.1%
2014 36.4% 23.9% 40.6% 21.9%
2013 34.8% 24.7% 41.2% 22.4%
2012 38.3% 27.3% 41.8% 20.8%
2011 37.4% 28.1% 41.5% 18.5%
2010 44.7% 27.9% 42% 19.1%
2009 54.5% 23.5% 42.7% 15.3%
2008 48% 7.77% 37.9% 14.6%
2007 38.3% 6.12% 37.4% 8.09%
2006 34.1% 6.32% 39.4% 8.21%
2005 35% 7.74% 43.4% 7.95%
2004 42% 11.3% 43.7% 7.83%
2003 44% 7.29% 43.3% 7.43%
2002 46% 8.55% 41.8% 7.45%
2001 42.9% 7.61% 38.1% 7.62%
2000 39.8% 8.37% 38% 7.49%
1999 41.7% 9.68% 41.7% 8.39%
1998 44.3% 12% 43.9% 9.51%
1997 40% - 44.2% 10.1%
1996 37.2% - 42.5% 10.2%
1995 38.1% - 42% 10.3%
1994 39.2% - - -
1993 44.2% - - -
1992 43.4% - - -
1991 42.3% - - -
1990 40.5% - - -

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

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

In 2024, Botswana's government spending was $6.55B, accounting for 33.8% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 30% in Botswana and 26.3% in Luxembourg, ranking 158/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Botswana

Luxembourg
1x
Year Deficit/surplus, % of GDP
Botswana Luxembourg
2024 -7.82% 1.03%
2023 -4.25% -0.78%
2022 -0.006% 0.18%
2021 -2.46% 1%
2020 -11.5% -3.09%
2019 -8.43% 2.68%
2018 -5.07% 3.17%
2017 -1.16% 1.37%
2016 0.72% 1.89%
2015 -5.06% 1.3%
2014 3.88% 1.33%
2013 6.07% 0.84%
2012 0.92% 0.5%
2011 -0.12% 0.65%
2010 -8.36% -0.26%
2009 -14.4% -0.21%
2008 -7.59% 3.37%
2007 5.92% 4.35%
2006 13.7% 1.9%
2005 10.7% -0.21%
2004 1.42% -1.39%
2003 -0.18% 0.28%
2002 -4.02% 2.03%
2001 -2.96% 5.62%
2000 8.95% 5.55%
1999 6.18% 3.24%
1998 - 2.98%
1997 - 2.65%
1996 - 2.37%
1995 - 2.71%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/botswana/luxembourg | 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 Luxembourg's surplus of $961M, or 1.03% of GDP.

Over the past 26 years, Botswana recorded a fiscal deficit in 16 of those years, while Luxembourg ran a deficit in 6 years. On average, Botswana posted an annual deficit equal to 0.96% of GDP, compared to surplus of 1.4% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Botswana

Luxembourg
1x
Year Consumer prices inflation
Botswana Luxembourg
2024 2.82% 2.05%
2023 5.07% 3.74%
2022 11.7% 6.34%
2021 7.24% 2.53%
2020 1.89% 0.82%
2019 2.77% 1.74%
2018 3.24% 1.53%
2017 3.31% 1.73%
2016 2.81% 0.29%
2015 3.06% 0.47%
2014 4.4% 0.63%
2013 5.88% 1.73%
2012 7.54% 2.66%
2011 8.46% 3.41%
2010 6.95% 2.27%
2009 8.03% 0.37%
2008 12.7% 3.4%
2007 7.08% 2.31%
2006 11.6% 2.67%
2005 8.61% 2.49%
2004 6.95% 2.23%
2003 9.19% 2.05%
2002 8.03% 2.07%
2001 6.56% 2.66%
2000 8.6% 3.15%
1999 7.75% 1.03%
1998 6.66% 0.96%
1997 8.72% 1.37%

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

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

Over the past 28 years, Botswana has recorded an average annual inflation rate of 6.7%, compared with 2.1% in Luxembourg. In 2024, inflation was 2.82% in Botswana and 2.05% in Luxembourg.

Top exports between countries

Botswana
Export category Export value
Machinery & equipment $6K
Luxembourg
Export category Export value
Machinery & equipment $71K
Raw materials & minerals $64K
Textiles & consumer goods $15K
Miscellaneous $1K

Balance of trade

Botswana Luxembourg
Current account balance
-$821M
2024
$4.1B
2024
Current account balance ranking
118/190
2024
35/190
2024
Current account balance, % of GDP
-4.23%
2024
+4.4%
2024
Goods imports
$6.86B
2024
$29.4B
2024
Goods exports
$4.66B
2024
$31.3B
2024
Service imports
$1.29B
2024
$117B
2024
Service exports
$935M
2024
$150B
2024
Imports of goods and services, % of GDP
43.7%
2024
159.7%
2024
Exports of goods and services, % of GDP
27.4%
2024
191.5%
2024

Economic freedom indices

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

Botswana Luxembourg
Economic freedom 67.7 79.7
Economic freedom ranking 53/197 7/197
Property rights 71.7 96.6
Government integrity 59.6 88.7
Judicial effectiveness 70.2 99.1
Tax burden 87.1 62.3
Government spending 69.8 36.9
Fiscal health 72.4 98.6
Business freedom 61.5 89.5
Labor freedom 60.7 56.7
Monetary freedom 72 74.1
Trade freedom 77 79.4
Investment freedom 50 95
Financial freedom 60 80

Economic freedom comparison by year

Botswana
Luxembourg
1x
Year Economic freedom index
Botswana Luxembourg
2026 67.7 79.7
2025 69.9 79.5
2024 68 79.2
2023 64.9 78.4
2022 64.8 80.6
2021 67.6 76
2020 69.6 75.8
2019 69.5 75.9
2018 69.9 76.4
2017 70.1 75.9
2016 71.1 73.9
2015 69.8 73.2
2014 72 74.2
2013 70.6 74.2
2012 69.6 74.5
2011 68.8 76.2
2010 70.3 75.4
2009 69.7 75.2
2008 68.2 74.7
2007 68.1 74.6
2006 68.8 75.3
2005 69.3 76.3
2004 69.9 78.9
2003 68.6 79.9
2002 66.2 79.4
2001 66.8 80.1
2000 65.8 76.4
1999 62.9 72.4
1998 62.8 72.7
1997 59.1 72.8
1996 61.6 72.5
1995 56.8 -

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

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

The Economic Freedom Index for Botswana is 67.7, ranking 53/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Botswana Luxembourg
Services, % of GDP
63.5%
2024
81.2%
2024
Industry, % of GDP
29.4%
2024
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
1.71%
2024
0.21%
2024
GNI, Atlas method
$19.5B
2024
$57.3B
2024
GNI per capita, PPP
$20,570
2024
$110,650
2024
Total reserves including gold
$3.46B
2024
$2.79B
2024
Total reserves ranking
113/177
2024
119/177
2024
Net foreign direct investment
-$464M
2024
$21.4B
2024
Net inflows of foreign direct investment
$467M
2024
$106B
2024
Net outflows of foreign direct investment
$3.02M
2024
$109B
2024
Servicing debt to the IMF, % of GNI
1.42%
2024
n/a
Poverty at national poverty lines
16.1%
2015
17.3%
2021
Gross capital formation, % of GDP
36%
2024
15.8%
2024

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/luxembourg | 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)

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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.