Preliminary figures from Statistics Botswana released this week indicate that the second quarter of the year jumped to a P1.6 billion surplus, following a string of deficits for all the quarters up to the Q2, 2023. In the first quarter of the year, the trade deficit was measured at P7.1 billion. According to the data agency, the second quarter surplus was due to improved trade balances in April and June, which recorded surpluses of P2 billion and P780 million respectively.
The surpluses in April and June were both helped by stronger diamond exports set against lower imports of the precious stone, as well as robust base metal exports. Under the country’s agreement with De Beers, diamonds from the group’s mines in South Africa, Namibia and Canada is imported and mixed in Botswana, together with local production, before being sold out to global buyers.
