Trade deficit widens on softer diamond exports
Friday, November 06, 2015
Diamond exports fell 35% in August this year
Trade data released by Statistics Botswana this week shows that while imports remained relatively flat, the deficit was driven by a significant 34% decline in exports from P4.6 billion to P3.03 billion.
An analysis of the data shows that the decline in exports was triggered by lower diamond exports (both polished and rough), which plunged 35% to P2.4 billion over the two months.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...