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22 EMERGING MARKETS BOTSWANA
Botswana has shown remarkable levels
of economic growth in recent decades, especially as it remains a small, land-locked nation of just over two million people.
Political stability has been a cornerstone of the Southern African nation’s development over its 50 years of independence from British rule, a milestone which it passed in October last year. This stable governance has provided a strong platform for the socio-economic acceleration of Botswana, which has advanced from one of the poorest nations on the continent to one of the most prosperous.
Botswana’s transition towards socio- economic prosperity has been con rmed by its emergence as an upper-middle income country (MIC), which is de ned as a nation with a gross national income (GNI) per capita
between $4,036 and $12,475.
In 2015, Botswana’s GNI per capita stood at $6,460, while its GDP per capita reached $17,700, allowing for the establishment of living standards akin to Mexico and Turkey, which provides a strong indication of Botswana’s continued economic progress.
Mining has provided the basis for Botswana’s economic growth, following the discovery
of large quantities of diamonds under
the nation’s vast desert land in 1967, and continues to account for swathes of national export earnings.
Botswana’s earnings from diamond exports reached almost $5 billion in 2012 (63% of the nation’s total exported goods), before dropping o  as a result of the recent global commodity price crash.


































































































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