Botswana’s di­a­mond ex­ports de­cline

The Pak Banker - - BUSINESS -

Ex­ports of di­a­monds mined in Botswana fell 38 per­cent to $2.4 bil­lion last year from $3.9 bil­lion in 2014, the south­ern African coun­try's low­est ship­ment of gems in six years.

Data pub­lished by the Bank of Botswana on Mon­day showed that the value of ex­ports from the ma­jor di­a­mond mines in Botswana have not been lower since the 2009 global fi­nan­cial cri­sis when the ex­ports were worth $1.8 bil­lion.

The fig­ures don't in­clude di­a­monds that De Beers brings into Botswana from Canada, South Africa and Namibia for ag­gre­ga­tion be­fore re-ex­por­ta­tion. The bulk of Botswana's di­a­mond ex­ports are from Deb­swana, a joint ven­ture be­tween the govern­ment and di­a­mond gi­ant De Beers.

Ex­ports from Botswana are largely dom­i­nated by the four mines owned by Deb­swana. An­a­lysts at Con­sul­tancy firm, Econ­sult say that de­spite the im­me­di­ate eco­nomic out­look re­main­ing poor there is, how­ever, some room for op­ti­mism for the di­a­mond in­dus­try. "Com­bined with rea­son­ably good jew­ellery sales over the peak Christ­mas pe­riod, the di­a­mond pipe­line is flow­ing again as de­mand is ris­ing for pol­ished goods, and this will in turn help rough de­mand," said the an­a­lysts in mar­ket re­port.

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