Diamond rebound powers first trade surplus in 11mths

The economy has suffered rolling trade deficits since February 2020, which describes a situation where the country is consistently importing more goods than it is exporting. Economists have warned that when deficits persist, they weaken a country’s foreign reserves and its currency.

Figures released by Statistics Botswana last Friday indicate that total exports in January 2021 amounted to P8.5 billion, with diamond exports measuring P8 billion. Exports in December 2020 were P5.9 billion with diamond exports measuring P5.5 billion.