The April deficit is the eighth successive month of shortfalls in the country’s merchandise trade balance, the measure of exports and imports of goods. Statistics Botswana revised the March deficit to P363.7 million from an initial estimate of P2.5 billion, providing hope that the final figures for April may yet be improved.
However, figures released by De Beers last Wednesday indicate that rough diamond sales in the fifth auction of the year were down 18% from the fourth cycle at $315 million. Diamond producers such as De Beers are hoping to rebound this year after a difficult 2023 caused by global economic weaknesses, a softer-than-forecast rebound in China, and industry reputational concerns amongst consumers due to the Russia-Ukraine conflict.
