Copper overtakes diamonds in exports

Statistics Botswana figures released this week show that the shortfall between the value of goods imported and exported by the country reached P6.8 billion last November, the worst monthly figure since the diamond downturn began in late 2023. Imports in November were estimated at P9.1 billion set against exports of P2.3 billion. The main import items included diamonds, food, fuel, and machinery, whilst exports were led by copper at P780.5 million, followed by diamonds at P618 million, and machinery and electrical equipment at P241.5 million.

Diamonds are classified as both imports and exports because the country imports rough diamonds under the sales agreement with De Beers where stones from Canada, South Africa, and Namibia are sorted, arranged, and sold in Gaborone to international clients over 10 auctions a year.