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Short answer: Botswana is a mostly free-market system, with heavy government involvement in the diamond mining market. Most of Botswana's GDP comes from extraction of resources.
Long answer: Botswana is one of the world's fastest-growing economies (an astronomical 9% yearly growth from independence in 1966-1999, and the per capita GDP is $16,029 at purchasing power parity.
Botswana has very little foreign debt, and has not relied on the very high government spending that has characterized some other developing nations' policy. Transparency International has rated Botswana as the least corrupt country in Africa, and there have been free and fair elections since independence.
Mining is the largest sector of Botwana's economy, at 38% of total GDP. The country is the world's largest producer of diamonds, and copper, gold, nickel, and soda ash are also important commodities. Tourism (especially ecotourism) encompasses 12% of GDP, and agriculture is 3%. A large part of Botswana's success has come from careful management of diamond exports; the government (which owns 50% of the diamond mines) has been careful not to saturate the market, which would lower prices.
What else can I help you with?
What type of economy does the United States have?
The economy of the United States is a mixed economy.
What is the difference between market economy and mixed economy?
The difference between market economy and mixed economy is that a marked economy is a marked economy and a mixed economy is a mixed economy
Is Spain a market economy command economy or mixed?
mixed economy
Why does ireland have a mixed economy?
Ireland's economy is a mixed economy! (:
What is a mixed economy continuum?
something to do with mixed economy
Does botswana have a market economy?
yes it does
What type of economy does the United States have?
The economy of the United States is a mixed economy.
What is the difference between market economy and mixed economy?
The difference between market economy and mixed economy is that a marked economy is a marked economy and a mixed economy is a mixed economy
Is Spain a market economy command economy or mixed?
mixed economy
What is the economy of the U.S. often called?
Mixed Economy
Why does ireland have a mixed economy?
Ireland's economy is a mixed economy! (:
Does Malaysia is a mixed economy country and what are the examples if it a mixed economy?
It is a mixed economy because we pay taxes
What is a mixed economy continuum?
something to do with mixed economy
What to produce in mixed economy?
You should produce mixed goods in a mixed economy.
What to produce mixed economy?
You should produce mixed goods in a mixed economy.
Is Argentina a mixed economy?
Argentina is a mixed economy. The banks are state owned and it does not have a completely free market yet. It is not a command economy.
Is Jamaica has unplanned unplanned or mixed economy?
it has a mixed economy
