Saturday, June 19, 2010

Botswana Diamond Exports +36% in April by Avi Krawitz for RAPAPORT

source: Republic of Botswana (6/6/10) TAUTONA TIMES no 6 of 2010
The Electronic Press Circular of the Office of the President
"Democracy, Development, Dignity, Discipline and Delivery"

E2) 6/6/10: Botswana Diamond Exports +36% in April by Avi Krawitz for RAPAPORT

Botswana's exports of polished and rough diamonds in April rose 36 percent to $233.6 million, the bank of Botswana reported. The bank had reported exports of $171.2 million in April 2009.

The data showed that first quarter diamond exports grew 101 percent to $476.9 million but remained well below the average exports experienced in the same period of previous years. Botswana's diamond exports valued at $924.4 million in the first quarter of 2008.

In the its 2009 annual report, published separately last week, the Bank of Botswana said the country's exports of diamonds were "seriously affected by the global recession" during the year, with the decline impacted by reduced volumes and lower diamond prices.

Diamond exports, by dollar value, dropped 31 percent to $2.18 billion in 2009. Measured in the local Botswana Pula currency, diamond exports declined 26.7 percent to BWP 15.2 billion and made up 64 percent of the country's total export revenue, the same portion as 2008.

The annual report further showed that diamond imports, rough and polished, fell 17 percent to $451 million (BWP 3.14 billion) in 2009.

Botswana is the largest producer of rough diamonds by value in the world. Its total rough production is currently mined by Debswana, a joint venture between De Beers and the Government of Botswana. It also has 16 manufacturing companies operating in the country as part of its beneficiation program to develop onto a polishing and trading centre.

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