Improved exports narrow June trade deficit

Botswana has recorded running trade deficits, or higher imports than exports, since October 2008 when the global recession hit local shores.

Statistics Botswana figures released yesterday indicate that for June, rough and polished diamond exports jumped 10 percent month-on-month to P3.2 billion, being their highest levels since last August. A 47 percent drop in diamond imports to P636 million between May and June, also drove the total import bill down to P4.3 billion from P5 billion. The presence of diamond imports on Botswana's trade statistics is due to the fact that the country first exports the precious stones to London where they are sorted "like for like" before being exported back for on-sale to local diamond cutting and polishing firms.