06 Jan 2013

Botswana’s Gross Domestic Product (GDP) increased by 5.7 per cent in the third quarter of 2012 compared to 6.6 per cent accrued in the same quarter in 2011.

Information released by the Central Statistics Office stated that the slow growth was attributed to mining and manufacturing which recorded negative growth of 24.0 and 5.5 per cent respectively, while all other sectors recorded a positive growth in the period.

Real mining value-added plummeted due to a substance decrease of production by 39 per cent in the third quarter of 2012.

At the industry level, Central Statistics Office said most of the increase was attributed to trade, hotels and restaurants as well as finance and business services.

Another slight increase was noted in the value added by water and electricity sector after it started declining in the first quarter of 2011.

In the third quarter of 2012, the Central Statistics Office stated that the cost of imported electricity went up by 40 per cent while selling price remained constant in the same period.

Meanwhile, when comparing the third quarter economic growth to that of the previous quarter, it increased by 1.1 per cent compared to 0.3 per cent recorded in the quarter of 2012, according to Central Statistics Office. ENDS