Trade deficit reaches P37bn in 2024

The trade balance, or the relationship between imports and exports of goods, has been in negative territory since at least September 2023 when diamond sales began to slow down and eventually sank due to factors including Chinese market weakness and the encroachment of synthetics.

According to a Statistics Botswana report released recently, imports for 2024 reached P96.9 billion against exports of about P59.7 billion, resulting in the record deficit. By comparison, in 2023, imports were estimated at P88.2 billion versus exports of P77.9 billion, resulting in a deficit of P10.3 billion.