Botswana’s total export value dropped by P976 million (16.5 percent) from the revised figure of P5. 925 billion recorded in October 2020 to P4. 949 billion during November 2020, this publication has established.
According to International Merchandise Trade Statistics Digest of November 2020 released by Statistics Botswana, the decline in the country’s export bill was due to decrease in the value of diamond exports by 17.3 percent (P924.8 million) from P5.3 billion in October 2020 to P4.4 billion in the period under review.
With the P4.4 billion figure, Diamonds remained the top exported commodity group followed by Machinery & Electrical Equipment as they accounted P153.1 million. Statistics Botswana also stated that during the period under review, the country’s exports were mostly absorbed by Asia with a market share of 63.5 percent. The United Arab Emirates (UAE) and India received exports representing 24.4 percent and 23.9 percent respectively.
On the other hand, Botswana’s import bill stood at P6.8 billion displaying a decrease of 16.6 percent from the revised October 2020 value of P8.2 billion. Statistics Botswana says the decrease in imports of Diamonds of 36.4 percent (P1, 290.1 million) had a significant impact on the overall reduction in total imports’ value.
The government statistics agency noted that Diamonds contributed the most to total imports at 32.8 percent (P2, 255.0 million), followed by Food, Beverages & Tobacco and Machinery & Electrical Equipment with 13.3 percent (P912.1 million) and 11.5 percent (P790.0 million) to the country’s total imports respectively.
According to Statistics Botswana, imports from South Africa accounted for 67.1 percent (P4, 614.9 million) during the month under review. Food, Beverages & Tobacco contributed 18.3 percent (P843.7 million) of imports from that country. Diamonds, Machinery & Electrical Equipment and Fuel accounted for 16.4 percent (P758.4 million), 13.0 percent (P601.1 million) and 12.2 percent (P562.2 million) respectively. Chemicals & Rubber Products made a contribution of 11.7 percent (P542.2 million) to total imports from the country during November 2020.