Thursday, May 23, 2024

Botswana’s trade deficit widens as diamond exports plummet

Botswana’s trade deficit surged from the revised P2.7 billion in January 2024 to P4.3 billion in February 2024, as indicated in the International Merchandise Trade statistics report for February. According to the report compiled by Statistics Botswana (SB), export earnings plummeted by 41.2 percent (P2 billion) from the revised value of P4.9 billion in January 2024 to P2.8 billion during the review period. Diamonds notably contributed to the decline in total exports, plummeting by 56.0 percent (P1.8 billion). However, despite this downturn, precious stones remained the leading export group, accounting for 51.0 percent, followed by Copper and Machinery & Electrical Equipment at 22.7 percent and 10.0 percent, respectively.

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