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Botswana export revenue doubles

patriot by patriot
November 9, 2020
in Business
242 10
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Botswana export revenue doubles

Dr Mguni

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The monthly figures on the International Merchandise Trade Statistics (IMTS) for July 2020 released recently by Statistics Botswana (SB) shows that Botswana‘s export income grew by 100%.

The figures by the national statistics custodian points out that overall exports amounted to P2 164.8 million, a rise of more than 100% as equated to P1, 101.7 million recorded in June 2020.

Dr Burton Mguni’s led entity further said the imports stood at P5 939.9 million, showing a decrease of 18.8% from the revised June 2020 value of P7 312.2 million.

“During the period under review, Botswana’s exports were mostly absorbed by the EU with a market share of 57.0%, with Belgium receiving 56.2 percent of total exports,” Statistics Botswana said in a report.

The most exported commodities from Botswana were diamonds, machinery and electrical equipment at 79.1% and 6.0% of total exports while South Africa was major source of imports.

Credit Manager at BancABC and economist, Pako Moshaga, said the issue of Botswana being an import-led country is quite an old song.

“Recent statistics are no different from trade disproportion levels we saw say 10 years ago. As per the July 2020 Statistics Botswana figures, the amount spent on imports was more than double the revenue made from exports, “Moshaga said giving an economic insights on figures.

According to Moshaga, it is important for Botswana as a nation to have a healthy balance of trade position as a positive balance of trade spills over into a pleasing balance of payments position.

This, he said, can be established through tilting the current trading scales through having higher export levels, adding that as it stands diamonds are still Botswana’s flagship export product.

“As at July 2020, they accounted for 79.1% of exports. One way to normalise the scales is to produce the top imported products locally. Fuel is such a product that we can tap into,” he said.

He said the manufacturing sector is a multi-faceted industry that can also lead to higher exports because Botswana imports a lot from South Africa which has a robust manufacturing sector.

“The nation should look to manufacturing of products that are in high demand regionally. Food stuff and other domestic use products are great areas. We see this in how food and beverages are amongst the top 3 imported items as per the July 2020 statistics,” he highlighted.

Statistics Botswana revealed that South Africa was the major source of imports into Botswana with a contribution of 53.3 percent to the country’s total imports during period under review.

“Namibia, Belgium and Canada followed with contributions of 21.6 percent, 4.1 percent and 4.0 percent, respectively. With regard to regional groupings, SACU was the major source of imports with a contribution of 75.4 percent. Asia and the EU accounted for 11.7 percent and 6.0 percent respectively,” SB underscored.

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  • Killings of journalists up 50% in 2022, half targeted off duty    January 25, 2023
    Eighty-six journalists and media workers were killed around the world in 2022 – one every four days, according to UNESCO data, highlighting the grave risks and vulnerabilities that journalists continue to face in the course of their work.   […]
  • Judge Tau; please don’t stifle public scrutiny of the Court of AppealJanuary 25, 2023
    Her utterances are misplaced and must be condemned with the contempt it deserves ADAM PHETLHE The Patriot on Sunday dated 15 January 2022 carried an article titled ‘Judge Tau defends CoA Integrity’, with sub-headings “Complains of discrediting reckless statements; […]
  • Miss Botswana 2022 is the Face of KGK DiamondsJanuary 19, 2023
    Its been an exciting first week back to her MBW duties and we kick off the year with an official announcement that Our Queen is The face of KGK Diamonds. Lesego Chombo alongside Nigel Amos was the show stopper […]
  • Executives to watch in 2023January 19, 2023
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  • BLP TEST AP/BCP UNITY TALKSJanuary 19, 2023
    BAKANG TIRO editors@thepatriot.co.bw The new entrant in the cooperation talks between Alliance for Progressives (AP) and Botswana Congress Party (BCP) – Botswana Labour Party (BLP) has thrown spanner in the works by demanding that both AP and BCP yield […]
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