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4th May 2021 Botswana’s trade balance which has weakened in the past years, widening the trade imbalance, and causing large drawdowns from the foreign reserves, appears to be improving, driven by a recovery in the diamond industry. Figures from Statistics Botswana’s international merchandise trade statistics released on Monday was positive, with the country recording a consecutive trade surplus, a development that will aid the government to replenish its investment account that plunged by 86 percent last year. In February, Botswana’s total export amounted to P6.3 billion, down by 27.1 p...

GABORONE, Botswana — Faced with declining demand for its diamonds, Botswana, Africa’s top producer of the gems, is recording modest success in its attempts to diversify the economy and reduce reliance on the minerals. Demand for the gems has been reducing over the years, a situation that has worsened during the COVID-19 pandemic—which also severely affected the tourism sector, the country’s second-biggest revenue earner. The latest figures from Statistics Botswana for January indicate that Botswana’s total export value rose by 43.7 percent—approximately $239,800 from $548,890 rec...

Botswana Searches For ‘New Diamonds’ To Diversify Economy Botswana Searches For ‘New Diamonds’ To Diversify Economy Comments Off on Botswana Searches For ‘New Diamonds’ To Diversify Economy GABORONE, Botswana — Faced with declining demand for its diamonds, Botswana, Africa’s top producer of the gems, is recording modest success in its attempts to diversify the economy and reduce reliance on the minerals. Demand for the gems has been reducing over the years, a situation that has worsened during the COVID-19 pandemic—which also severely affected the tourism sector, the countr...

INFLATION UP: Fuel increase by 1.3 percent The latest figures from Statistics Botswana have shown that in March, a month before Value Added Tax (VAT) increment kicked in, inflation had increased to 3.2 percent. According to the data, the main contributors to the increase were housing, water, electricity, gas, and other fuels which recorded an increase of 1.3 percent. Food, non-alcoholic beverages, and transport increased by 0.5 percent and 0.4 percent respectively. The comparison of inflation rates has indicated that inflation rates by regions between February and March 2021, cities an...

15,000 job losses in 2020 A total of 52,850 people were employed from 2015 to 2019, taking employment figures from 698,528 to 742,378. The Minister of Finance and Economic Development, Dr Thapelo Matsheka revealed this in parliament on Tuesday this week. Matsheka was answering a question from Kanye North Member of Parliament (MP), Thapelo Letsholo, who wanted the minister to appraise the House on the country’s economic growth over the last three years and projections over the next three years. Letsholo further asked Matsheka to state how many permanent jobs were created as a result of the e...