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Diamond slump causes P3 billion trade deficit

Under pressure: Producers such as Debswana are hoping higher holiday season demand will clear the glut in the retail market and support a return to stable fundamentals next year
Under pressure: Producers such as Debswana are hoping higher holiday season demand will clear the glut in the retail market and support a return to stable fundamentals next year

Diamond exports fell by about 61% in September, causing the country’s trade balance to break a six-month streak of surpluses and slip to a P3.9 billion deficit, Statistics Botswana figures show.

Diamond exports as recorded by the data agency, fell to P2.4 billion in September, from P6.2 billion in August, underlining the sharp drop in both demand and prices for the precious stones seen this year.

The country’s trade balance or the relationship between imports and exports of goods, was in surplus between March and August, held up generally by strong copper exports and the residual robust diamond performance from 2021 and 2022.

Editor's Comment
BDF visitation approval a welcome development

BDF camps are military camps, and there is a need for stricter rules and regulations to safeguard their operations as well as ensure the safety of civilians. Of course, military personnel are human, and they have relatives as well as girlfriends and boyfriends, but the fact remains that the BDF is responsible for ensuring national security and stability and, as such, will be one of the first targets in the event of possible attacks. The decision...

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