Diamond exports swing up 48 percent

Prior to the latest upswing, diamond exports had slumped by nearly 45 percent in April, having risen by 34 percent in March, with the fluctuations largely driven by mixed demand in diamond markets.

According to preliminary data released by the Bank of Botswana (BoB) on Monday, May diamond exports were nearly 20 percent down from May 2011, a time when a global diamond shortfall and general recovery from the 2009 recession, underpinned demand for the precious stones. In United States dollar terms, May exports were pegged at US$324 million, being nearly 45 percent up from their April levels.