- Diamonds down but still remained most exported commodity
- Asia, mainly the UAE and China, Botswana’s top export destinations
- Botswana recorded balance of trade deficit of P4.2bn recorded in October
TLOTLO KEBINAKGABO
Botswana’s total exports decreased by 17.9 percent from the revised September 2024 figure of P3.9 billion to P3.2 billion registered in October 2024.
This data is contained in a recent report by Statistics Botswana titled International Merchandise Trade Statistics Monthly Digest – October 2024.
The Diamonds group contributed the most to the decline of total exports, falling by 30.5 percent from the revised September 2024 value of P2.4 billion to P1.6 billion in the current month.
Diamonds top
Despite the decline, Diamonds still remained the top exported commodity, accounting for 51.7 percent, followed by Copper and Machinery & Electrical Equipment at 24.8 percent (P800.6 million) and 8.1 percent (P260.9 million), respectively.
Exports to Asia were the highest at 50.5 percent of total exports. Diamonds and Copper were the major commodity groups exported to Asia, comprising 76.7 percent and 23.0 percent, respectively.
“The UAE and China were the top export destinations within Asia at 28.2 percent (P911.8 million), and 11.6 percent (P375.3 million) of total exports, respectively,” the report states. “Almost all exports destined to the UAE consisted of Diamonds valued at P911.4 million, and all exports to China consisted solely of Copper valued at P375.3 million.”
SACU region
Exports destined to the SACU region accounted for 18.9 percent (P610.1 million) of total exports. Machinery & Electrical Equipment, Salt & Soda Ash, and Meat & Meat Products were major commodity groups exported to the customs union, at 38.1 percent (P232.4 million), 13.1 percent (P79.8 million), and 8.0 percent (P48.9 million), respectively.
South Africa was the largest recipient, at 17.1 percent (P554.3 million) of total exports. Machinery & Electrical Equipment and Salt & Soda Ash were the main exports to South Africa at 39.6 percent (P219.5 million) and 14.4 percent (P79.8 million), respectively.
Imports surge
Namibia received exports totalling 1.2 percent (P40.3 million) of total exports, with Machinery & Electrical Equipment at 22.0 percent (P8.9 million) and Vehicle & Transport Equipment at 15.7 percent (P6.3 million) being the primary commodities exported.
On the other hand, Botswana received imports valued at P8.1 billion in October 2024. The leading imported commodity groups were Food, Beverages & Tobacco; Diamonds; Machinery & Electrical Equipment; and Fuel.
Food, Beverages & Tobacco accounted for 15.9 percent of total imports, followed by Diamonds at 15.4 percent. Machinery & Electrical Equipment and Fuel contributed 15.2 percent and 15.1 percent, respectively.
SA and Namibia
The SACU region was the primary source, supplying 73.7 percent of total imports.
Key commodity groups from the customs union included Food, Beverages & Tobacco (20.0%), Fuel (14.7 percent – P887.2 million), Diamonds (12.9 percent – P776.3 million), and Machinery & Electrical Equipment (12.0 percent – P726.8 million).
South Africa and Namibia were the largest sources of imports within SACU, contributing 61.6 percent and 11.4 percent (P929.8 million), respectively.