• P63m to quench Molepolole thirstJune 4, 2025
    P63 million budgeted for water infrastructure development Water Ministry PS upbeat on the project success BAKANG TIRO editors@thepatriot.co.bw RelatedPosts P63m to quench Molepolole thirst Boko to chop ‘deadwood’ ‘Give us our land back’- Saleshando After decades of enduring dry… Read more: P63m to quench Molepolole thirst
  • Letshego deposits hit P2.1 billionJune 3, 2025
    2024 growth driven by Mozambique, Botswana, Namibia Interest Income grew to P3.9 billion, double digit growth Operating income up 26% to reach P2.88 billion   BAKANG TIRO RelatedPosts Letshego deposits hit P2.1 billion Boko to chop ‘deadwood’ ‘Raise capital… Read more: Letshego deposits hit P2.1 billion
  • Boko to chop ‘deadwood’June 3, 2025
    Singles out ailing BMC, BAMB, BR & Air Botswana Orders BMC, BAMB to pay farmers within five days MPs call for sacking of CEOs appointed by BDP govt BAKANG TIRO editors@thepatriot.co.bw RelatedPosts P63m to quench Molepolole thirst Letshego deposits… Read more: Boko to chop ‘deadwood’
  • Mr President, direct appointment is not a panacea for corruptionJune 2, 2025
    Botswana is in the storm of procurement corruption that has been left unattended for the longest time. Yet it appears it is difficult if not impossible to craft long-lasting solutions to as far as possible, cure procurement corruption because… Read more: Mr President, direct appointment is not a panacea for corruption
  • ‘Raise capital through BSE’June 2, 2025
    • BSE CEO implores CEEP beneficiaries • BSE, Debswana, Stanbic partner to unlock growth BAKANG TIRO editors@thepatriot.co.bw Beneficiaries of Debswana Diamond Company Citizen Economic Empowerment Programme (CEEP)have been encouraged to raise capital in the Botswana Stock Exchange (BSE). This… Read more: ‘Raise capital through BSE’
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Thursday, June 5, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Botswana’s trade deficit conundrum

patriot by patriot
December 19, 2024
in Business
240
0
491
SHARES
1.4k
VIEWS
ShareShareShare

Botswana has consistently recorded a trade deficit from September 2023 to September 2024, Statistics Botswana (SB) revealed in its International Merchandise and Trade Statistics Monthly (IMTS) September 2024 report. It is a monthly digest that provides a summary of trade statistics on Botswana’s total imports and exports of goods for September 2024. The international merchandise trade statistics records all goods which add to, or subtract from, the stock of material resources of a country by entering (as imports) or leaving (as exports) its economic territory. 

During September 2024, Statistics Botswana said the country recorded trade deficit amounting to P4, 430.6 million while exporting merchandise valued at P3, 434.5 million to external markets with diamonds being the dominant exported commodity, accounting for 56.8 percent (P1, 951.3 million). Statistics Botswana indicated that diamond exports were followed by Copper and Machinery and Electrical Equipment at 24.0 percent (P823.4 million) and 6.4 percent (P221.4 million) respectively. An independent economist Lame Bothata said a trade deficit recorded for a whole year is a bad signal for economic growth. 

RelatedPosts

Letshego deposits hit P2.1 billion

‘Raise capital through BSE’

Mining sector endures worst recession

He said the deficit is expected to widen more so that diamonds sales remain weaker, adding that constant efforts to address the trade imbalance are important as government seeks to diversify the economy away from mineral (diamonds) dependence. 

“Botswana for a very long time has failed to diversify the export basket base and is dominated by the diamonds. Currently the diamond sales blues are having a negative impact on the entire economy. Government’s efforts to diversify the economy must be focused on value addition of diamonds where they can be processed into jewellery rather than exporting them as raw materials,” said Bothata. He also said there is a need to explore Non- Resource-Based Exports, stating that while diamonds are currently dominant, actively promoting other sectors like tourism, manufacturing, and agriculture holds significant potential to diversify the export basket and reduce heavy dependence on a single commodity. 

Furthermore, he said it is important for Botswana to carefully study import composition analysis, saying that entails analysing the specific types of imported goods (fuel, food, machinery, etc.) to identify opportunities for import substitution. 

He said encouraging domestic production of goods currently being imported, especially food, can help reduce the trade deficit. 

Meanwhile the report said in September 2024, imports stood at P7, 865.1 million, registering a decrease of 9.9 percent from the revised August 2024 value of P8, 730.7 million. 

The top imported commodity groups were Diamonds at 19.6 percent, followed by Fuel at 17.6 percent. 

Food, Beverages & Tobacco, Machinery & Electrical Equipment and Chemicals and Rubber Products came next, with contributions of 15.5 percent, 13.1 percent and 10.9 percent in that order. 

According to Statistics Botswana, the Southern African Customs Union (SACU) was the main source of imports at 77.9 percent. Asia and the European Union (EU) accounted for 7.8 percent and 2.9 percent of total imports respectively. 

“At country level, South Africa was the main supplier of imports at 59.7 percent of the total, followed by Namibia at 17.2 percent. Mozambique, China and, Canada contributed 4.5 percent, 3.5 percent and 3.1 percent respectively,” the report underscored. 

During the period under review, Botswana’s exports were mostly absorbed by Asia and SACU with market share of 39.3 percent and 29.4 percent respectively. 

At country level, Botswana’s top export destinations were South Africa, the United Arab Emirates (UAE) and Belgium, having received 23.0 percent, 21.1 percent and 12.4 percent of total exports respectively. Australia and China followed at 11.7 percent and 11.1 percent respectively. 

Related

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

NMG positive about 2025

Next Post

Bakgatla petition Kgatleng Land Board 

Related Posts

Letshego deposits hit P2.1 billion
Business

Letshego deposits hit P2.1 billion

June 3, 2025
‘Raise capital through BSE’
Business

‘Raise capital through BSE’

June 2, 2025
Mining sector endures worst recession
Business

Mining sector endures worst recession

May 27, 2025
VP applauds the Northern Trade Fair
Business

VP applauds the Northern Trade Fair

May 26, 2025
ALC’s STRATEGIC investment
Business

ALC’s STRATEGIC investment

May 19, 2025
Stanbic boosts green economy
Business

Stanbic boosts green economy

May 12, 2025
Next Post
Bakgatla petition Kgatleng Land Board 

Bakgatla petition Kgatleng Land Board 

  • P63m to quench Molepolole thirstJune 4, 2025
    P63 million budgeted for water infrastructure development Water Ministry PS upbeat on the project success BAKANG TIRO editors@thepatriot.co.bw RelatedPosts P63m to quench Molepolole thirst Boko to chop ‘deadwood’ ‘Give us our land back’- Saleshando After decades of enduring dry… Read more: P63m to quench Molepolole thirst
  • Letshego deposits hit P2.1 billionJune 3, 2025
    2024 growth driven by Mozambique, Botswana, Namibia Interest Income grew to P3.9 billion, double digit growth Operating income up 26% to reach P2.88 billion   BAKANG TIRO RelatedPosts Letshego deposits hit P2.1 billion Boko to chop ‘deadwood’ ‘Raise capital… Read more: Letshego deposits hit P2.1 billion
  • Boko to chop ‘deadwood’June 3, 2025
    Singles out ailing BMC, BAMB, BR & Air Botswana Orders BMC, BAMB to pay farmers within five days MPs call for sacking of CEOs appointed by BDP govt BAKANG TIRO editors@thepatriot.co.bw RelatedPosts P63m to quench Molepolole thirst Letshego deposits… Read more: Boko to chop ‘deadwood’
  • Mr President, direct appointment is not a panacea for corruptionJune 2, 2025
    Botswana is in the storm of procurement corruption that has been left unattended for the longest time. Yet it appears it is difficult if not impossible to craft long-lasting solutions to as far as possible, cure procurement corruption because… Read more: Mr President, direct appointment is not a panacea for corruption
  • ‘Raise capital through BSE’June 2, 2025
    • BSE CEO implores CEEP beneficiaries • BSE, Debswana, Stanbic partner to unlock growth BAKANG TIRO editors@thepatriot.co.bw Beneficiaries of Debswana Diamond Company Citizen Economic Empowerment Programme (CEEP)have been encouraged to raise capital in the Botswana Stock Exchange (BSE). This… Read more: ‘Raise capital through BSE’
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?