Botswana’s Diamond Exports Continue on Path of Recovery

Loaded truck at De Beers' Jwaneng diamond mine in Botswana. Exports increased 45% last September

(IDEX Online News) - Botswana exported $247.5 million worth of polished diamonds in September, bringing the country’s diamond exports to $2.05 billion in the first nine months of 2010, according to figures released this morning by the Bank of Botswana.

The September exports are a 45 percent increase from September 2009 and a 1.9 percent decrease from the preceding August 2010 when exports spiked.

Botswana’s exports are seeing a clear revival this ear, surging ahead 60.7 percent compared to 2009, and the average monthly trend is exports of about $228.2 million a month, a 44.8 percent growth from 2009.

This is a relatively high level of average monthly exports, nearing the pre-crisis highs of $270-$280 million averaged in 2005-2008.

Botswana is one of the world’s largest diamond producing countries, and the backbone of De Beers’ rough diamond supplies. After peaking in August 2008, exports have quickly declined due to lower demand in the recessionary environment but have been slowly recovering since April 2009.

Source: Bank of Botswana