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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
The chart illustrating Botswana's GDP growth rate from 1961 to 2023 reveals significant fluctuations and trends in the country's economic performance over the decades. The data indicates a period of robust growth, particularly in the late 1990s, with peak growth rates reaching over 25% in 1971 and 1972, largely fueled by diamond mining and investments. However, Botswana's economy also faced challenges, including negative growth in 2009 and 2020, attributed to global economic downturns and the impacts of the COVID-19 pandemic. More recently, the economy has shown resilience with a rebound in growth, highlighting Botswana's ability to adapt and recover from external shocks.
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