The diamond rich Botswana recorded a trade surplus in May as the country realised a rise in exportation of the girl’s best friend. The International Merchandise Trade Statistics (IMTS) Monthly Digest which presents statistics on Botswana’s total imports and exports of goods during May 2017 showed that there was a trade surplus of P1.1 billion during the month.

“The trade surplus was influenced by the high value of diamond exports while imports of the same commodity recorded a low value,” said Statistics Botswana.

According to Stats Botswana, total imports were valued at P4, 247.3 million showing a decrease of 17.9% (P924.0 million) from the April 2017 value of P5, 171.3 million. The decrease was mainly attributed to the decrease of 31.6% (P551.5 million) in diamonds imports from P1, 746.7 million in April 2017 to P1, 195.1 million in May 2017.

Machinery & Electrical Equipment also contributed to the decrease, having recorded a decrease of 29.3% (P195.6 million) from P667.4 million during April 2017 to P471.8 million in May 2017. Fuel recorded a decrease of 22.4% (P186.2 million) from P829.6 million during April 2017 to P643.4 million during the month under review.

Comparison of imports for May 2017 and May 2016 shows a decrease of 9.9 percent (P465.8 million), from P4, 713.1 million recorded during May 2016 to P4, 247.3 million recorded during the reference month.

“The decrease was mainly due to the 37.2 percent (P381.8 million) decrease in imports of Fuel, from P1, 025.2 million during May 2016 to P643.4 million in May 2017. Machinery & Electrical Equipment also decreased by 38.0 percent (P289.6 million), from P761.4 million during May 2016 to P471.8 million during the month under review.”

On the other hand, May 2017 total exports were valued at P5, 381.7 million, showing an increase of 41.5% (P1, 577.1 million) from the April 2017 value of P3, 804.6 million. This increase is mainly due to a rise of 41.3% (P1, 459.6 million) in diamond exports, from P3, 531.1 million in April 2017 to P4, 990.7 million in May 2017.

Year-on-year, the total exports value for May 2017, compared to that of the same month in 2016 shows a decrease of 38.9% (P3, 430.7 million) from P8, 812.4 million to P5, 381.7 million.

“The decrease is mainly attributed to the drop in exports of diamonds, which fell by 37.2 percent (P2, 959.7 million) from P7, 950.4 million in May 2016 to P4, 990.7 million during the period under review. Copper & Nickel also registered a decrease of 97.5 percent (P259.2 million) from P265.7 million in May 2016 to P6.5 million reported in the current month.”

The Southern African Customs Union (SACU) was the major source of imports into Botswana during May 2017, accounting for 84.6% (P3, 594.0 million) of total imports. South Africa was the main source of imports during the month, having contributed 64.5% (P2, 739.1 million) to total imports.

Namibia contributed 19.8 percent (P843.0 million) to total imports during the month under review. The major commodities imported from South Africa were; Fuel and Food, Beverages & Tobacco with contributions of 21.2% (P580.2 million) and 17.6% (P483.1 million) respectively to total imports from that country.

These were followed by Machinery & Electrical Equipment and Chemicals & Rubber Products with contributions of 13.1% (P357.8 million) and 11.0 percent (P300.2 million) respectively. The European Union (EU) contributed imports valued at P312.4 million, representing 7.4% of total imports during the month. Belgium, Germany and the United Kingdom (UK) were the main contributors to imports sourced from EU, with 4.3% (P183.3 million), 1.3% (P53.3 million) and 1.1% (P47.8 million) respectively, of total imports during the month under review.

The main commodity imported from Belgium was Diamonds, making 82.9% (P152.0 million) of all imports sourced from that country. Asia supplied imports valued at P238.0 million, accounting for 5.6% of total imports during May 2017. India and Israel respectively supplied 1.8% (P76.1 million) and 1.0% (P42.0 million) of total imports during the same month. Chart 3.1 gives the graphical presentation of imports by major trading partner countries and regions during May 2017.