News

Advanced Search

Botswana’s Rough Exports Drop

Jan 31, 2018 10:40 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


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
Similar Articles
Tiffany Stevens JVCCIBJO Publishes Ethics Recommendations
Oct 16, 2019
The World Jewellery Confederation (CIBJO) has produced a special report on ethics ahead of its annual congress
Letseng diamondsLesotho Renews Letšeng Lease
Oct 06, 2019
Gem Diamonds has obtained a 10-year lease to continue mining at the lucrative Letšeng deposit in Lesotho, but
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.