Economy shrank 6 percent in 2009-CSO

source: Mmegi
BRIAN BENZA
Staff Writer

Botswana’s economy as measured by the GDP shrank by six percent last year due mainly to declined activity in the mining sector, according to data released by the Central Statistics Office.

“Real GDP declined by 6.0 percent in 2009 from the revised 3.1 percent in 2008,” says a CSO statement. “The drivers to the decline was mining and manufacturing industries, with mining being the major contributor to the decline at 9.9 percent.” GDP bounced back by a positive 7.2 percent in the fourth quarter of 2009 after shrinking by 20.9 percent, 2.5 percent and 7.9 percent in the first three quarters of the year respectively.

GDP is a primary health indicator of an economy that shows the total market value of goods and services produced in a country in a year. The 7.2 growth in the last quarter of last year was largely attributed to a rebound in the mining and agriculture sectors as the country shook off the effects of the global recession after a disappointing start of [continue reading]

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