|
|
Botswana’s Rough Exports Drop
Jan 31, 2018 10:40 AM
By Rapaport News
|
|
|
RAPAPORT... Botswana’s rough-diamond exports declined 14% to $3.48 billion in 2017, according to data released by the Bank of Botswana.
After rising slightly in the first quarter, exports dropped
18% year on year in the second quarter, slid 21% in the third quarter and fell 20% in the fourth.
Much of the overall decline reflects a slowdown in De Beers’ total
rough sales, which fell 5% to an estimated $5.31 billion last year. Debswana, the company’s
diamond-mining joint venture with the Botswana government, accounts
for a large portion of Botswana’s total exports.
De Beers’ sales drop was due to a lower average price, as manufacturers
sought smaller, lower-value rough. Demand for those goods was initially weak following
India’s demonetization policy in late 2016, but buyers returned at the start of
2017.
|
|
|
|
|
|
|
|
|
|
Tags:
Bank of Botswana, Botswana, Botswana government, De Beers, Debswana, Demonetization, exports, manufacturers, Production, Rapaport News, Rough Diamonds, rough exports, rough sales
|
|
|
|
|
|
|
|
|
|
|
|
|