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Diamonds exports surge power trade surplus

An increase on month- on -month total diamond exports powered the country’s trade balance to a surplus of P1, 332.5 million in January 2015.

Statistics Botswana data released this week pegged  total imports at P4, 437.9 million, showing an increase of 0.4 percent that is P16.1 million from the December 2014 value of P4, 421.8 million while total exports were valued at P5, 770.4 million, an increase of 4.2 percent that is P232.1 million from the December 2014 value of P5, 538.3 million.

The data shows total exports were valued at P5, 770.4 million, with 84.2 percent (P4, 860.4 million) attributed to exports of Diamonds. The values include Diamonds exported from the aggregation process. Consequently these are not diamonds produced by Botswana only.

The digest stated that Diamonds contributed the highest to total imports with 19.3 percent (P885.2 million), followed by Fuel with 16.4 percent (P728.7 million). Machinery & Electrical Equipment and Food, Beverages & Tobacco each contributed 13.5 percent to total imports during the month, with P601.1 million and P600.7 million respectively.

Copper Nickel contributed 7.2 percent (P418.3 million) while Machinery & Electrical Equipment; and Vehicles & Transport Equipment contributed 2.1 percent (P120.1 million) and 1.5 percent (P84.2 million) respectively. Machinery & Electrical Equipment consists mainly of re-export of goods that were initially imported.

According to Statistics Botswana Imports for January 2015 were valued at P4, 437.9 million, with 75.5 percent (P3, 350.0 million) coming from South Africa and 1.0 percent (P42.8 million) from Namibia.

For the period under review imports from Asia were valued at P323.0 million, representing 7.3 percent of total imports. China and Israel contributed 1.9 percent (P82.4 million) and 1.4 percent (P64.2 million) respectively, to total imports recorded during January 2015.

The European Union (EU) supplied imports valued at P306.0 million, representing 6.9 percent of total imports during January 2015. Belgium and Germany contributed 3.6 percent (P160.1 million) and 1.6 percent (P70.6 million) respectively, to total imports during the same period.

Imports from Canada, the United States of America (USA) and Switzerland were valued at P208.0 million, P101.2 million and P72.6 million in January 2015, representing 4.7 percent, 2.3 percent and 1.6 percent respectively of total imports during the month.

Total exports for January 2015 were valued at P5, 770.4 million, with 35.5 percent (P2, 048.5 million) destined to Asia. Statistics Botswana figures indicate that Singapore received most of the exports destined to Asia at the value of P745.0 million, representing 12.9 percent of total exports. While India, Israel and Hong Kong followed with contributions of 10.7 percent (P617.3 million), 4.5 percent (P257.8 million) and 3.4 percent (P195.4 million) respectively, of total exports during the month under review.

Exports destined to the EU were valued at P1, 075.4 million, representing 18.6 percent of total exports during the period under review. Belgium received most exports destined to EU, having received 16.6 percent (P956.3 million) of total exports during January 2015. This was followed by Finland with 1.5 percent (P89.1 million) of total exports during the same month.

South Africa and Namibia received 16.6 percent (P960.6 million) and 12.3 percent (P708.5 million) respectively, of total exports during the month under review.

Exports to Canada were valued at P393.0 million, representing 6.8 percent of total exports (P5, 770.4 million) during January 2015. Norway, Switzerland and the United States of America (USA) received 3.7 percent (P215.8 million), 3.3 percent (P188.6 million) and 1.0 percent (P55.6 million) respectively, of total exports during the same month.

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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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