Africa-Press – Botswana. Botswana’s diamond exports saw a significant decline of 15.3 percent, approximately P755 million, from P4.924 billion in April 2024 to P4.169 billion in May 2024.
According to a recent report by Statistics Botswana titled “International Monthly Digest – May 2024 Merchandise Trade Statistics,” the overall export earnings for the country fell by 7.2 percent (P458.6 million) from the revised value of P6.3 billion recorded in April 2024 to P5.9 billion in May 2024.
This downturn is mainly attributed to the drop in diamond exports.
But despite the decrease, diamonds remained the leading export commodity group, contributing 70.6 percent (P4.169 billion) of the total exports. Copper followed with a 16.5 percent share (P973.6 million).
The report highlights Asia as the primary destination for Botswana’s diamond exports, accounting for 62.9 percent (P3.7 billion) of the total.
Within Asia, the United Arab Emirates (UAE) and India were the main recipients, with 34.5 percent (P2 billion) and 14.8 percent (P876.3 million) of the total exports, respectively.
Diamonds and copper were the major commodities exported to Asia, contributing 89.4 percent (P3.3 billion) and 10 percent (P372 million) of the exports to the region.
Belgium
“The EU received exports amounting to P730 million, reflecting 12.4 percent of total exports in May 2024,” the report states.
“Belgium was the primary destination within the EU, accounting for 11.8 percent (P698.4 million) of total exports, with diamonds being the main commodity group exported at 95.6 percent (P698.1 million).”
Exports to the Southern African Customs Union (SACU) region accounted for 9.7 percent (P572.2 million) of the total exports.
SACU
The primary commodities exported to the SACU region were machinery and electrical equipment, and salt and soda ash, which represented 34.5 percent (P197.4 million) and 15.9 percent (P90.8 million) of the exports to the region, respectively.
South Africa was the leading recipient of exports to the SACU region, making up 8.9 percent (P527.6 million) of the total exports.
Conversely, Botswana’s imports amounted to P8.2 billion in May 2024, an increase of 1.8 percent from the revised April 2024 figure of P8.1 billion.
This rise in imports is mainly attributed to a significant increase in diamond imports, which surged by 53.4 percent (P684.2 million).
Food, beverages, and tobacco
The report indicates that the SACU region was the largest source of imports, contributing 77.5 percent to the total imports during the period under review.
Diamonds and fuel were the most imported commodities from the SACU region, accounting for 20.4 percent and 18.9 percent, respectively.
Food, beverages, and tobacco, along with machinery and electrical equipment, also made substantial contributions to the imports from the union, at 17.6 percent and 11.8 percent, respectively.
“Among the SACU member states, South Africa was the largest source of imports, contributing 63.7 percent of the total imports,” the report reads. “Namibia followed with 13.4 percent of the total imports.
Singapore, China and India
“During the period of assessment, Botswana imported goods worth P808.4 million from Asia, representing 9.8 percent of the total imports.
“The main commodity groups imported from Asia were diamonds and machinery and electrical equipment, which contributed 50 percent (P404.5 million) and 18.3 percent (P147.8 million) of the total imports, respectively.”
In Asia, Singapore, China and India were the top contributors to Botswana’s imports, with shares of 3.7 percent (P309.4 million), 2.4 percent (P196.8 million), and 1.2 percent (P96.1 million) of the total imports, respectively.
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