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P10 billion export collapse signals fiscal squeeze and tougher months ahead
Tshiamo Tabane（https://weekendpost.co.bw/author/ttabaneweekendpost-co-bw/） 4 days ago 1010 7 min
Botswana’s trade figures are flashing a warning. The country’s export earnings fell by P10.1 billion in a year, leaving it with a trade deficit of P17.6 billion.
New data from Statistics Botswana shows that exports dropped from P46 billion in the first seven months of 2025 to P35.9 billion during the same period this year. The decline is raising fresh questions about the resilience of Botswana’s economic model, which remains heavily dependent on exports of diamonds.
Diamonds accounted for nearly all of the decline. Revenue from diamond exports fell by P12.38 billion, from P34.25 billion in the first seven months of 2025 to P21.87 billion during the same period in 2026.
The weakness is also visible in producer prices. Statistics Botswana’s mining producer price index, a measure of prices received by mining companies, fell to 93.4 in the second quarter of 2026 from 107.1 in the first quarter — a quarterly decline of 12.9 percent. The drop was driven by a 13.6 percent fall in the diamond producer price index.
Trade Deficit More Than Triples
The export slump came as the country’s import bill continued to grow. The trade deficit widened from P4.93 billion in the first seven months of 2025 to P17.6 billion during the corresponding period this year.
Imports totaled P53.56 billion, up P2.63 billion from the P50.93 billion recorded a year earlier. The increase was driven largely by a rise in diamond imports, which climbed from P6.4 billion to P10.9 billion.
The increase reflects Botswana’s role as a regional diamond hub. Rough diamonds from neighboring countries and other suppliers are brought into Botswana, where they are aggregated, sorted, valued and polished before being re-exported.
Fuel accounted for the second-largest share of imports, followed by machinery and electrical equipment. The rise in those categories was linked largely to development and infrastructure projects, suggesting that public investment remains active.