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Economy of Botswana vs Turkmenistan compared: GDP & Debt

Updated on by Georank team

Botswana has a GDP of $19.4B compared to $64.2B for Turkmenistan, ranking 133/197 and 88/197 by economy size, respectively.

Botswana has $6.36B in government debt (43.8% of GDP), compared to $2.97B (4.5% of GDP) in Turkmenistan.

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 $
Turkmenistan
GDP, current $

GDP, constant 2015 $
Year GDP
Botswana Turkmenistan
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 - -
1967 $58,642,354 $311,034,576 - -
1968 $66,248,441 $343,901,776 - -
1969 $77,361,547 $395,911,433 - -
1970 $96,243,234 $463,692,530 - -
1971 $127,448,614 $583,423,076 - -
1972 $164,460,915 $737,224,723 - -
1973 $244,124,164 $894,277,062 - -
1974 $306,044,208 $972,953,727 - -
1975 $355,168,572 $1,055,131,835 - -
1976 $372,025,093 $1,167,475,696 - -
1977 $451,624,780 $1,307,713,345 - -
1978 $590,407,374 $1,495,145,304 - -
1979 $819,870,259 $1,676,784,361 - -
1980 $1,060,889,704 $1,877,778,848 - -
1981 $1,073,812,830 $2,047,996,824 - -
1982 $1,014,945,696 $2,297,146,530 - -
1983 $1,172,230,397 $2,599,146,161 - -
1984 $1,240,822,167 $2,821,253,171 - -
1985 $1,114,783,343 $3,022,275,113 - -
1986 $1,392,602,164 $3,269,283,371 - -
1987 $1,965,226,890 $3,657,737,272 $2,331,358,820 $9,134,688,479
1988 $2,644,554,159 $4,369,166,056 $3,010,982,414 $10,141,662,024
1989 $3,083,822,112 $4,939,753,185 $3,006,988,217 $9,710,101,902
1990 $3,790,636,324 $5,274,313,873 $3,189,539,641 $13,145,978,552
1991 $3,942,876,703 $5,667,709,608 $3,208,098,919 $12,540,571,637
1992 $4,146,464,587 $5,833,040,675 $3,200,539,816 $10,663,751,367
1993 $4,160,129,175 $5,944,807,979 $3,179,225,949 $10,823,707,656
1994 $4,259,259,604 $6,160,480,628 $2,561,118,608 $8,951,221,334
1995 $4,730,599,122 $6,593,587,690 $2,482,228,440 $8,306,729,733
1996 $4,847,757,218 $6,977,980,666 $2,378,759,975 $8,863,279,974
1997 $5,020,265,627 $7,558,959,722 $2,450,350,625 $7,852,866,037
1998 $4,790,481,509 $7,592,496,073 $2,605,689,134 $8,410,419,553
1999 $5,484,263,347 $8,326,480,944 $2,450,564,100 $9,798,138,737
2000 $5,788,329,609 $8,491,986,059 $2,904,663,311 $10,334,005,228
2001 $5,489,608,300 $8,513,264,764 $3,534,772,732 $10,782,898,471
2002 $5,438,863,983 $9,029,979,997 $4,462,029,109 $10,810,629,921
2003 $7,511,582,173 $9,447,697,368 $5,977,440,583 $11,164,010,880
2004 $8,957,467,707 $9,703,335,214 $6,838,351,088 $11,722,256,910
2005 $9,918,907,108 $10,145,481,816 $8,103,901,996 $13,250,139,963
2006 $9,919,158,482 $10,994,036,837 $10,276,674,365 $14,704,118,675
2007 $10,567,270,656 $11,630,872,553 $12,664,165,103 $16,330,291,194
2008 $10,730,829,116 $12,009,117,014 $19,271,523,179 $18,730,843,999
2009 $10,118,459,242 $10,310,519,328 $20,214,385,965 $19,873,425,505
2010 $12,637,273,429 $11,353,915,358 $22,583,157,895 $21,701,780,649
2011 $15,110,643,612 $12,130,342,698 $29,233,333,333 $24,891,942,389
2012 $13,907,464,500 $12,109,617,145 $35,164,210,526 $27,654,947,984
2013 $14,271,738,933 $13,454,136,660 $39,197,543,860 $30,475,752,707
2014 $15,470,088,501 $14,220,638,229 $43,524,210,526 $33,614,755,226
2015 $13,530,748,845 $13,530,748,845 $35,799,714,286 $35,799,714,286
2016 $15,082,637,184 $14,505,561,464 $36,169,428,571 $38,019,296,559
2017 $16,105,155,857 $15,102,375,175 $37,926,285,714 $40,490,550,854
2018 $17,031,943,186 $15,734,967,215 $40,765,428,571 $43,000,964,983
2019 $16,725,908,149 $16,212,015,761 $45,232,857,143 $45,710,025,795
2020 $14,960,251,611 $14,796,887,969 $45,818,000,000 $48,406,917,339
2021 $18,750,182,235 $16,560,125,448 $50,007,428,571 $51,408,146,222
2022 $20,321,150,598 $17,468,616,756 $58,972,000,000 $54,595,451,255
2023 $19,411,266,967 $18,029,021,881 $60,628,857,143 $58,035,050,719
2024 $19,400,774,882 $17,489,977,782 $64,239,891,739 $59,349,032,300

Economic indicators

Botswana Turkmenistan
Gross domestic product
$19.4B
2024
$64.2B
2024
GDP rank
133/197
2024
88/197
2024
GDP growth
-0.05%
2023-2024
5.96%
2023-2024
GDP per capita
$7,695
2024
$8,572
2024
GDP per capita rank
98/197
2024
91/197
2024
GDP per capita, PPP
$20,538
2024
$20,408
2024
Government debt
$6.36B
2024
$2.97B
2024
Debt-to-GDP ratio
43.8%
2025
4.5%
2025
Government debt per person
$2,523
2024
$396
2024
Government debt per person rank
110/185
2024
172/185
2024
Average annual personal income after taxes
$4,596
2025
$8,974
2025
Market capitalization of domestic companies
$3.59B
2023
n/a
Income share by richest 10%
42.9%
2015
31.5%
1998
Income share by poorest 10%
1.4%
2015
2.4%
1998
Government expenditure, % of GDP
34.9%
2025
11.1%
2025
Consumer prices inflation
2.82%
2023-2024
3.9%
2024-2025
Central bank interest rate
1.9%
2024
n/a
Unemployment rate
24.4%
2024
4%
2010
Population
2595266
7713465

GDP per capita in Botswana vs Turkmenistan

Botswana's GDP per capita is $7,695, ranking 98/197, compared to $8,572 in Turkmenistan, ranking 91/197. Adjusted for purchasing power (GDP per capita PPP), Botswana ranks 93rd at $20,538, while Turkmenistan ranks 94th at $20,408.

Botswana
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
Year Current $
Botswana Turkmenistan
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 - - -
1967 $100.9 - - -
1968 $113.4 - - -
1969 $131.8 - - -
1970 $163 - - -
1971 $212.2 - - -
1972 $264.2 - - -
1973 $374 - - -
1974 $446 - - -
1975 $493 - - -
1976 $490 - - -
1977 $565 - - -
1978 $695 - - -
1979 $909 - - -
1980 $1,132 - - -
1981 $1,107 - - -
1982 $1,006 - - -
1983 $1,121 - - -
1984 $1,145 - - -
1985 $994 - - -
1986 $1,200 - - -
1987 $1,639 - $675 -
1988 $2,141 - $846 -
1989 $2,428 - $821 -
1990 $2,903 $5,978 $848 $5,321
1991 $2,939 $6,463 $832 $5,117
1992 $3,005 $6,614 $811 $4,351
1993 $2,929 $6,706 $788 $4,422
1994 $2,917 $6,903 $622 $3,659
1995 $3,156 $7,348 $592 $3,405
1996 $3,156 $7,728 $558 $3,636
1997 $3,194 $8,322 $565 $3,222
1998 $2,981 $8,268 $591 $3,432
1999 $3,340 $8,999 $546 $3,981
2000 $3,451 $9,187 $634 $4,209
2001 $3,206 $9,226 $756 $4,401
2002 $3,117 $9,753 $936 $4,393
2003 $4,230 $10,224 $1,229 $4,536
2004 $4,957 $10,596 $1,379 $4,798
2005 $5,391 $11,222 $1,604 $5,489
2006 $5,292 $12,304 $1,997 $6,164
2007 $5,529 $13,113 $2,415 $6,901
2008 $5,503 $13,526 $3,606 $7,916
2009 $5,083 $11,446 $3,708 $8,285
2010 $6,216 $12,491 $4,059 $8,972
2011 $7,287 $13,355 $5,144 $10,283
2012 $6,596 $12,475 $6,054 $11,035
2013 $6,667 $13,341 $6,600 $11,723
2014 $7,122 $15,003 $7,164 $12,477
2015 $6,141 $14,144 $5,759 $12,715
2016 $6,749 $16,228 $5,687 $12,919
2017 $7,105 $15,701 $5,828 $13,278
2018 $7,408 $15,786 $6,125 $14,368
2019 $7,172 $15,960 $6,648 $15,478
2020 $6,323 $15,292 $6,593 $15,091
2021 $7,808 $17,961 $7,051 $16,434
2022 $8,329 $19,977 $8,156 $18,340
2023 $7,826 $21,012 $8,233 $19,829
2024 $7,695 $20,538 $8,572 $20,408

Spending and national debt comparison

In 2024, Botswana's government spending was $6.74B, accounting for 34.9% of its GDP, while Turkmenistan's spent $7.26B, or 11.1% of GDP.

Debt-to-GDP ratio is 43.8% in Botswana and 4.5% in Turkmenistan, ranking 122/185 and 183/185, respectively.

Botswana
Government spending

Government debt
Turkmenistan
Government spending

Government debt
Year % of GDP
Botswana Turkmenistan
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% - 14.6% 84.9%
1998 44.3% 12% 14.2% 107.9%
1999 41.7% 9.68% 11.3% 88.2%
2000 39.8% 8.37% 14.1% 72.9%
2001 42.9% 7.61% 12.3% 45.1%
2002 46% 8.55% 10.6% 32%
2003 44% 7.29% 11.3% 22.4%
2004 42% 11.3% 11% 15.1%
2005 35% 7.74% 11.5% 9.01%
2006 34.1% 6.32% 8.74% 5.59%
2007 38.3% 6.12% 7.86% 4.05%
2008 48% 7.77% 6.36% 4.71%
2009 54.5% 23.5% 7.84% 4.08%
2010 44.7% 27.9% 8.86% 6.21%
2011 37.4% 28.1% 9.62% 10%
2012 38.3% 27.3% 10.3% 13.8%
2013 34.8% 24.7% 13% 16%
2014 36.4% 23.9% 13.2% 12.3%
2015 39.7% 25.7% 13.8% 14.5%
2016 34.2% 22.4% 11.9% 18.5%
2017 35% 19.8% 14.7% 20%
2018 35.9% 19.8% 11.4% 18.7%
2019 36.4% 21.3% 11.6% 15.3%
2020 38.5% 24.8% 11.8% 13.3%
2021 33% 23.4% 10.9% 10.7%
2022 29.5% 21.3% 9.44% 5.77%
2023 32.3% 22.5% 10.9% 4.66%
2024 34.7% 32.8% 11.3% 4.62%
2025 34.9% 43.8% 11.1% 4.5%

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 Turkmenistan's surplus of $204M, or 0.32% of GDP.

Over the past 26 years, Botswana recorded a fiscal deficit in 16 of those years, while Turkmenistan ran a deficit in 7 years. On average, Botswana posted an annual deficit equal to -1.05% of GDP, compared to surplus of +1.14% of GDP for Turkmenistan.

Deficit/surplus
Botswana

Turkmenistan
Year Deficit/surplus, % of GDP
Botswana Turkmenistan
1997 - -0.11%
1998 - 0.63%
1999 6.18% 1.35%
2000 8.95% -0.3%
2001 -2.96% 0.42%
2002 -4.02% 0.1%
2003 -0.18% 2.17%
2004 1.42% 0.8%
2005 10.7% 0.47%
2006 13.7% 3.07%
2007 5.92% 2.28%
2008 -7.59% 5.85%
2009 -14.4% 4.11%
2010 -8.36% 1.29%
2011 -0.12% 2.4%
2012 0.92% 5.27%
2013 6.07% 1.18%
2014 3.88% 0.69%
2015 -5.06% -0.56%
2016 0.72% -2.01%
2017 -1.16% -2.35%
2018 -5.07% -0.18%
2019 -8.43% -0.34%
2020 -11.5% -0.14%
2021 -2.46% 0.46%
2022 -0.006% 2.45%
2023 -4.18% 0.75%
2024 -10.3% 0.32%
2025 -11.2% 0.17%

Inflation comparison by year

Over the past 29 years, Botswana has recorded an average annual inflation rate of 6.81%, compared with 44.8% in Turkmenistan. In 2024, inflation was 2.82% in Botswana and 3.9% in Turkmenistan.

Inflation
Botswana

Turkmenistan
Year Inflation
Botswana Turkmenistan Botswana Turkmenistan
1996 10.1% 992%
1997 8.72% 83.7%
1998 6.66% 16.8%
1999 7.75% 23.5%
2000 8.6% 8%
2001 6.56% 11.6%
2002 8.03% 8.8%
2003 9.19% 5.6%
2004 6.95% 5.9%
2005 8.61% 10.7%
2006 11.6% 8.2%
2007 7.08% 6.3%
2008 12.7% 14.5%
2009 8.03% -2.7%
2010 6.95% 4.4%
2011 8.46% 5.3%
2012 7.54% 5.3%
2013 5.88% 6.8%
2014 4.4% 6%
2015 3.06% 7.4%
2016 2.81% 3.6%
2017 3.31% 8%
2018 3.24% 13.3%
2019 2.77% 5.1%
2020 1.89% 6.1%
2021 7.24% 19.5%
2022 11.7% 11.2%
2023 5.07% -1.6%
2024 2.82% 4.6%
2025 - 3.9%

Balance of trade

Botswana Turkmenistan
Current account balance
-$821M
2024
n/a
Current account balance ranking
116/189
2024
n/a
Current account balance, % of GDP
-4.23%
2024
n/a
Goods imports
$6.86B
2024
n/a
Goods exports
$4.66B
2024
n/a
Service imports
$1.29B
2024
n/a
Service exports
$935M
2024
n/a
Imports of goods and services, % of GDP
40.9%
2024
12.5%
2023
Exports of goods and services, % of GDP
26%
2024
21.6%
2023

Economic freedom indices

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

Botswana Turkmenistan
Economic freedom 69.9 47.1
Economic freedom ranking 36/197 178/197
Property rights 74.1 17.7
Government integrity 60.1 7.3
Judicial effectiveness 70.5 8.2
Tax burden 84.9 94.2
Government spending 70.8 96.7
Fiscal health 90.4 100
Business freedom 70.6 37.4
Labor freedom 60.7 33.9
Monetary freedom 68.3 75.1
Trade freedom 78.8 74.2
Investment freedom 50 10
Financial freedom 60 10

Economic freedom by year comparison

The Economic Freedom Index for Botswana is 69.9, ranking 36/197, compared to 47.1 for Turkmenistan, ranking 178/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Botswana
Turkmenistan
Year Economic freedom index
Botswana Turkmenistan
1995 56.8 -
1996 61.6 -
1997 59.1 -
1998 62.8 35
1999 62.9 36.1
2000 65.8 37.6
2001 66.8 41.8
2002 66.2 43.2
2003 68.6 51.3
2004 69.9 50.7
2005 69.3 47.6
2006 68.8 43.8
2007 68.1 43
2008 68.2 43.4
2009 69.7 44.2
2010 70.3 42.5
2011 68.8 43.6
2012 69.6 43.8
2013 70.6 42.6
2014 72 42.2
2015 69.8 41.4
2016 71.1 41.9
2017 70.1 47.4
2018 69.9 47.1
2019 69.5 48.4
2020 69.6 46.5
2021 67.6 47.4
2022 64.8 46.2
2023 64.9 46.5
2024 68 46.3
2025 69.9 47.1

More economic indicators

Botswana Turkmenistan
Services, % of GDP
63.5%
2024
49.4%
2023
Industry, % of GDP
29.4%
2024
39.3%
2023
Agriculture, forestry, and fishing, % of GDP
1.71%
2024
11.3%
2023
GNI, Atlas method
$19.5B
2024
$62.9B
2024
GNI per capita, PPP
$20,570
2024
$20,220
2024
Total reserves including gold
$3.46B
2024
$1.51B
1999
Total reserves ranking
113/177
2024
135/177
1999
Net foreign direct investment
-$464M
2024
n/a
Net inflows of foreign direct investment
$467M
2024
$1.64B
2024
Net outflows of foreign direct investment
$3.02M
2024
n/a
Servicing debt to the IMF, % of GNI
1.28%
2023
1.93%
2023
Poverty at national poverty lines
16.1%
2015
0.2%
2020
Gross capital formation, % of GDP
36.2%
2024
47.2%
2012

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.