Sunday, November 27, 2022

Botswana records trade surplus as imports decline

Statistics Botswana has revealed that Botswana has recorded a trade surplus of P583.2 million as imports slumped as at April 2013.

The record surplus follows other trade surpluses realised in February and March 2013, at values of P270.8 million and P367.7 million. Botswana has recorded another trade surplus following the one recorded in November 2012.

Botswana has run a trade surplus due to the high export of diamonds constituting 86.1 percent (P5, 576.4 million) of the total exports. Other main exports, Copper, Nickel and Meat/Meat products contributed 6.3 percent (P411.0 million) and 1.7 percent (P110.3 million) respectively. While Machinery & Electrical Equipment contributed 1.4 percent (P89.6 million) to total exports during the month under review.

Botswana pocketed P6, 474.0 million from the exports during the period under review while it spent P5, 890.8 million on imports.
Statistics Botswana said that the country experienced an increase in imports of 0.8 percent (P45.7 million) from the March 2013 and whose value is P5, 845 million. In comparison to the April 2012 total imports which recorded P3, 635.1 million, the April 2013 value increased by 62.1 percent (P2, 255.7 million).

In April 2013 total exports were valued at P6, 474.0 million, having increased by 4.2 percent (P261.2 million) from the March 2013 value of P6, 212.8 million. The April 2013 total exports increased by over a 100 percent (P4, 048.1 million) from the total value of exports recorded in April 2012, which stood at P2, 425.9 million.

The monthly digest shows that the composition of imports by principal commodities for April 2013 shows that diamonds contributed 36.9 percent (P2, 172.6 million) to total imports (P5, 890.8 million) during the month, followed by Machinery & Electrical Equipment with 13.4 percent (P789.3 million). Fuel contributed 12.5 percent (P734.7 million) followed by Vehicles & Transport Equipment and Food, Beverages & Tobacco with 8.0 percent (P472.6million) and 7.8 percent (P462.0 million), respectively. Chemicals and Rubber Products contributed 7.2 percent (P425.4 million).

Botswana‘s main trading partners are South Africa, Namibia, European Union, United Kingdom, Asia, China, Japan, Israel and Belgium.

According to the digest, Botswana’s major imports for April 2013 were from South Africa, accounting for 64.4 percent (P3, 791.7 million), while Namibia was the second major source of Botswana imports accounting for 9.8 percent (P579.4 million).

These two were followed by the European Union (EU) which supplied imports valued at P820 million during April 2013, representing 13.9 percent of total imports. Imports from the EU are mainly from the United Kingdom and Belgium, contributing 8.0 percent (P473.1 million) and 4.9 percent (P286.5million), respectively, to total imports during the month under review.

Other sources of imports are Asia, valued at P238.8 million in April 2013, representing 4.1 percent of total imports. Israel alone supplied 1.2 percent (P69.8 million) of imports into Botswana during the month under review. Japan and China both contributed 0.7 percent at values of P39.7 million and P39.0 million, respectively. Imports from the United States of America were valued at P351.1 million in April 2013, which is a 6.0 percent of total import during the month.

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