Diamond exports rise in February

Diamond sales are on the recovery
Diamond sales are on the recovery

Botswana’s diamonds trade appears to be making a solid resurgence despite the slow recovery in the global economy and low commodity prices.

In February this year, the country exported P6.35 billion worth of diamonds, indicating a 16.4% increase from P5.45 billion over the corresponding month last year, according to recent data from Statistics Botswana (SB).

More telling, however, is that February diamond exports increased 7.2% or P424.2 million to P6.35 billion from P5.92 billion in January 2017.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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