Diamonds Remain Top of Botswana’s Export Bill

 Diamonds Remain Top of Botswana’s Export Bill

Diamonds Remain Top of Botswana’s Export Bill.

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Despite the difficulties brought about by the COVID-19 pandemic, diamonds continue to be the country’s best performer in terms of export commodities, this publication can reveal.

According to a recent report by Statistics Botswana, in the month of May 2021, Botswana’s total export value went down by 2.4 percent from the revised April 2021 figure of P4.9 billion to P4.8 billion. Statistics Botswana attributed the fall to a decrease in the export of diamonds by 4.3 percent from P4.4 billion in April 2021 to P4.21 billion in May 2021.

However, diamonds were the main export commodity group with a contribution of 87.5 percent to total exports. Machinery & Electrical Equipment contributed 2.9 percent.
During the month under review, exports destined to Asia, the European Union and the Southern African region accounted for 60.2 percent, 25.4 percent and 10.6 percent of the monthly total respectively. The United Arab Emirates received exports representing 26.1 percent of the monthly total. Belgium, India and South Africa received 25.1 percent, 20.1 percent and 9.5 percent respectively.

On the other hand, imports amounted to P7.4 billion, reflecting a rise of 8.4 percent from the revised April 2021 value of P6.8 billion. “The leading import commodity groups were Diamonds, Machinery & Electrical Equipment, and Food, Beverages & Tobacco and Fuel with contributions of 38.3 percent and 11.3 percent for the first two groups while Food, Beverages & Tobacco and Fuel contributed 11.2 percent and 10.9 percent respectively,” Statistics Botswana said.

“During the month under review, diamonds were the main export commodity group with a contribution of 87.5 percent to total exports. Machinery & Electrical Equipment contributed 2.9 percent.”

Statistics Botswana stated that in May 2021, imports from the Southern African region contributed 56.5 percent to total imports while those from Asia and the Europe accounted for 19.7 percent and 17.1 percent respectively. Imports from South Africa accounted for 54.8 percent of total imports.

Imports from the United Arab Emirates and India represented 6.5 percent and 5.6 percent respectively. Belgium and Canada supplied 15.1 percent and 4.0 percent respectively, of the monthly total.

Louis Schoeman

Louis is a freelance writer that has been featured on investing.com, entrepreneur.com, marketwatch.com, benzinga, seekingaplha. Louis focusses on helpful news and tips on cfd’s, forex trading and crypto. When he is not writing world class articles, he is an avid trader in crypto.

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