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Diamonds dominate Imports and exports statistics

Latest figures from the country’s Statistics agency affirm diamonds trade as the mainstay of the economy as they continue to dominate the exports and imports.

The International Merchandise Trade Statistics (IMTS) for May has revealed that diamonds still dominate the goods coming and leaving the country.

The report released by Statistics Botswana noted that May 2015 total imports were valued at P6, 485.5 million, showing an increase of 16.4 percent (P912.5 million) from the April 2015 value of P5, 573.0 million. As compared to May 2014, the May 2015 import figure shows a decrease of P573.2 million, which is 8.1 percent decrease from P7, 058.7 million recorded during the same month of the previous year.

Equally, during the same period, total exports were valued at P7, 103.0 million, an increase of 88.6 percent (P3, 337.6 million) from the April 2015 value of P3, 765.4 million. May 2015 total exports show a rise of P1, 092.5 million (18.2 percent) from the May 2014 value of P6, 010.6 million.

According to the monthly digest,  the composition of imports by principal commodities for May 2015  shows that diamonds contributed  the most to total imports (P6, 485.5 million), having contributed 40.3 percent (P2, 615.6 million), and followed by Fuel with 11.3 percent (P731.1 million) and Machinery & Electrical Equipment with 11.1 percent (P717.3 million).

May 2015 total exports were valued at P7, 103.0 million, with 85.3 percent (P6, 061.7 million) attributed to exports of Diamonds. These diamonds consist of diamonds from Diamond polishing companies as well as those from the aggregation process.

Copper Nickel, Machinery & Electrical Equipment and Meat & Meat Products contributed 5.5 percent (P392.3million), 3.1 percent (P219.8 million) and 1.6 percent (P110.4 million) respectively, to total exports during the month.

Botswana‘s main trading partners are South Africa, Namibia, European Union, United Kingdom, Asia, China, Japan, Israel and Belgium.

The digest indicates that Botswana’s imports were largely from South Africa accounting for 60.9 percent (P3, 951.6 million) followed by Namibia contributing 19.1 percent (P1, 240.2 million). Canada and the United States of America (USA) supplied 9.4 percent (P611.8 million) and 1.0 percent (P63.5 million) respectively, of total imports during the month.

Other sources of imports for the period under review were Asia which supplied imports valued at P317.5 million, representing 4.9 percent of total imports. Israel contributed 1.1 percent (P68.6 million), while China and India each contributed 1.0 percent to total imports during May 2015, at values of P64.0 million and P61.7 million respectively.

The European Union (EU) supplied imports valued at P216.5 million, representing 3.3 percent of total imports during May 2015. Belgium contributed 1.7 percent (P110.9 million) to total imports recorded during the same period.

Total exports for May 2015 were valued at P7, 103.0 million, with 37.1 percent (P2, 637.8 million) destined to Asia. India received most of the exports destined to Asia at the value of P1, 081.5 million, representing 15.2 percent of total exports.

United Arab Emirates (UAE), Israel and Hong Kong followed with contributions of 8.2 percent (P583.1 million), 8.0 percent (P569.2 million) and 2.2 percent (P156.6 million) respectively, during the month under review.

Exports destined to the EU were valued at P1, 629.4 million, representing 22.9 percent of total exports during the period under review. Belgium received most exports destined to EU, having received 20.9 percent (P1, 482.5 million) of total exports during May 2015. South Africa and Namibia received 11.3 percent (P799.4 million) and 10.1 percent (P715.4 million) respectively, of total exports during the month under review.

Exports to Canada were valued at P453.4 million, representing 6.4 percent of total exports (P7, 103.0 million) during May 2015. Norway, Switzerland and the United States of America (USA) received 4.2 percent (P298.1 million), 3.6 percent (P257.7 million) and 3.0 percent (P210.3 million) respectively, of total exports during the same period.

Botswana recorded a trade surplus of P617.5 million.

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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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