Economy contracts again in Q1, but warming seen :: Mmegi Online

The economy contracted by 0.3 percent in the first three months of the year, continuing its depressed performance seen in the prolonged diamond downturn, but signs of stability are emerging in key sectors.

According to figures published by Statistics Botswana this week, the 0.3 percent drop in economic value added in the first quarter, compares to a contraction of 5.2 percent for the corresponding period last year.

In terms of sectors, while key areas such as mining and diamonds, continued in the red, their decreases were nominally improved when compared to the previous corresponding period last year. Mining and quarrying contracted by 7.7 percent in the first quarter, compared to a drop of 24.9% over the same period last year, whilst diamond traders, which represents cutting and polishing activities, contracted by 36.2% in the first quarter, compared to a fall of 46% last year.

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