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International Business of Botswana Country - Essay Example

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After its independence in 1966 Botswana, in a few decades, has moved to a developing nation from a poor and underdeveloped economy. Its major export of diamonds is the basis of economic growth of the country. Moreover, the place is also an important source of income through tourism and foreign investment…
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International Business of Botswana Country
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Download file to see previous pages When Botswana appeared on the face of the map, there was no army for the defence and protection of the country. In 1977 Botswana Defence Force was formed and today almost 12000 armed men are an integral part of the system (Botswana, 2007).
The government of Botswana has perfectly maintain the outflow of diamonds for the economic well being of the country and from last three decades Botswana is a leader in the production of quality diamonds. Thus, the revenue generated from diamond mining is very rightly used to carry out the essential expenditures of the country (Background Note: Botswana, 2007).
The other chief sources of income in Botswana include tourism and cattle industry. Before 1971 the market was based on agriculture and farming, but then diamond mining started that heightened the economic growth and also increased the per capita income of the country as compared to many other African countries (The World Fact Book, 2007).
Whenever we consider the economic structure of a place, we cannot deny the fact that there are some threatening issues related to that area which have an immense effect on the expansion and progression of the nation. Similarly, Botswana is dealing with the victims of HIV- AIDS as the country has the second highest infection rate and as a result huge amounts are needed to tackle the problem every year (Structure of the economy, 2007). In addition to it, the nation is also facing crisis in the employment sector. A large number of population is unemployed and the government is taking keen interest in facilitating the service sector.
Cultural values of Botswana
In the northern areas of Botswana trained and skilful women are working in their villages. They are famous for weaving and crafting. Moreover, few writers of that part of the world are famous for their work primarily Bessie Head, who wrote about Botswana until her death in 1986 (Binsbergen, 2002). In the same manner people from different fields have entered the global market in order to promote the culture of Botswana and to strengthen its economy in the world (Botswana, 2007).
Botswana - International trade today and 25 years back
After the independence of Botswana in 1966, agriculture had been its major economic sector. Its main emphasis had been on agricultural goods which shared about forty percent (40%) of the Gross Domestic Product of Botswana and forms the basic exports of the country. Even today the primary sector contributes highest to the country's GDP, which now, not only includes agricultural goods but also mining. Now Botswana is on the path of diversification. It is working hard to diverse its economy and emphasizing more on manufacturing goods and mining than on agricultural goods. Its main manufacturing products include meat products, dairy products, textiles, chemical and leather products, wooden products and many others. In 1983 the mining sector contributed 52.6 percent to the GDP (Kapunda, 2003, 3).
The major exports of Botswana are focused to Common custom area, USA, UK, Zimbabwe and to other European countries. In the year 1985 the total exports of Botswa ...Download file to see next pagesRead More
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