Botswana exports down as diamond sales fall

Botswana’s total exports amounted to P5, 637.8 million during the month of June, a 6.8 percent decrease compared to the previous month.

The decline is attributed to the 7.4 percent drop in diamond exports.

In recent Sightholder sales, De Beers rough diamond sales have plummeted, leading to a decline in the value of diamond sales.

The latest sales from De Beers’ Group Sightholder’s seventh cycle sales amounted to US$270 million – a far cry from the US$500 million recorded during the first cycle of sales in January.

The diamond group sources most of its rough diamonds from Debswana.

Before selling to contracted clients, called Sightholders, the group holds sales 10 times a year.

Latest figures from Statistics Botswana (SB) indicate that for the same month, imports were valued at P4, 632.8 million, a decline of 29.6 percent from the revised May value of P6, 582.0 million.

During June, it is reported that Belgium was the destination for a substantial amount of local goods, receiving 21.7 percent of total exports.

The European nation was closely followed by United Arab Emirates (UAE) and India at 19.1 percent and 18.1 percent respectively.

Other countries to receive Botswana exports included Singapore, which received 8.7 percent of total exports while South Africa accounted for 7.5 percent.

Asia received the majority of exports from Botswana, accounting for 59 percent whilst the European Union (EU) received 23.2 percent of total exports.

The Southern African Customs Union (SACU) accounted for the smallestamount of Botswana’s exports at just 8.9 percent.
As usual, the country’s main exports were diamonds,shining bright at 91.3 percent.

In terms of imports, machinery and electrical equipment led the field at 16.3 percent,with diamonds coming a close second at 16.2 percent.

Fuel and food, beverages and tobacco contributed 14.2 and 14.1 percent to total imports respectively.

However, in contrast to exports, which were mainly destined for outside the continent, imports were predominantly from SACU, with the region accounting for 71.6 percent of Botswana’s total imports.

Breaking the figure down further, it was once again dominated by South Africa, who made up 70.3 percent.

Asia and the EU contributed 15.6 percent and 8.9 percent each.

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