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Botswana registered a trade surplus of over P1 million

The International Merchandise Trade Statistics 2019 monthly report indicates that Botswana’s total exports amounted to P5.6 Million, resulting in a decrease of 6.8% compared to the revised May 2019 value of P6.045.5 Million. Imports were valued at over P4 Million, showing a decline of 29.6% from the revised May 2019 value of P6 Million.

Imports are valued cost, insurance and freight, which includes the cost of the commodity plus insurance and freight charges, but excludes customs or any other duty paid on arrival. Having imports valued at over P4 million and showing a decline of over P1 Million, the decrease was mainly attributed to the decline in diamonds imports, having declined by 68%, P1,6 Million, from P2.3 Million in May 2019, to P749.9 Million during June 2019. This decline in diamonds exports contributed 82.1% points to the total imports decline.

Vehicles and transport equipment imports also went down by 51.3%, which is P404.5 Million from P788.2 Million in May 2019 to P383.7 Million during the month under review. Metals and metal products and machinery and electrical equipment imports recorded increases from May to June 2019. Metals and metal products went up by 38.3% (P121 Million), from P316 Million to P437 Million while machinery and electrical equipment rose by 9%, or P62 Million from P693 recorded to P755 Million. The contribution of commodities that recorded increases were not enough to offset the negative contributions made by those that recorded decreases, thus an overall decline in imports value during the current period.

Comparison of imports value for June 2019 and June 2018 shows a decrease of 27%, P1.7 Million from P6.3 Million recorded in June 2018 to P5 Million registered in June 2019. The decrease in total imports was mainly as a result of diamonds imports, which decreased from P2.726.4 Million during June 2018 to P749.9 Million in June 2019. Textiles and footwear also contributed to the decrease, dropped from P126.9 Million during June 2018 to P98.8 Million in June 2019.

During June 2019, Botswana’s total exports amounted to P5.6 Million, resulting in a decrease of 6.8 percent, P408.7 Million, compared to the revised May 2019 value of P6 Million. The decrease is associated with a fall of 7.4 percent (P409 Million) in diamonds exports during June 2019 compared to the value recorded for the previous month. Comparison of total  exports value for June 2019 and June 2018 shows a fall of 17%, which is equivalent to P1.1 Million from P6.8 Million recorded in June 2018 to P5.6 Million currently.

The decline in total exports was a result of diamonds exports, which decreased by 18%, or P1.1 Million, from P6.2 Million during June 2018 to P5.1 Million during the current period. Meat and meat products also registered a decrease of 29%, which equals P40 Million from P141 Million to P101 Million. Botswana registered a trade surplus of P1, 0004.0 Million during June 2019. The country received total imports amounting to P4.6 Million during June 2019.

Machinery and electrical equipment and diamonds contributed the most to total imports 16.3%, or P755.8 million and 16.2% P749 Million respectively. These groups were followed by fuel with 14.2% which is P658 Million and food, beverages and tobacco with 14.1%, P651 Million. Chemicals and rubber products contributed 10.6% or P490.8 Million to total imports during the month under review. Total exports for June 2019 were valued at P5.6 Million, with 91.3% (P5.1 Million) attributed to diamonds. Machinery and electrical equipment and meat and meat products exports contributed 2.3% or P128 Million and 1.8%, P101 Million respectively, to total exports during the period under review.

Botswana received imports worth P4.6 Million during June 2019, with 71.6% or P3.3 Million sourced from Southern African Customs Union SACU. The top most imported commodity group from the SACU region was food, beverages and tobacco, with a contribution of 18.6% which is P617 Million, followed by fuel with 18.3% or P605 Millions of total imports from the region. Machinery and electrical equipment and chemicals and rubber products made contributions of 15.5% or P515 Million and 11.9% percent, P394 Million respectively to total imports from SACU during June 2019.

Within the SACU region, South Africa was the largest source of imports, with a contribution of 70.3%, P3,2 Million to total imports during the month under review. Food, beverages and tobacco and fuel were the top most imported commodities from South Africa with a contribution of 18.4%, P600.6 Million and 17.9%, P582 Million, respectively to total imports from that country.

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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