Increased diamond sales boost Botswana's March trade surplus

Botswana's trade balance for the month of March recorded a bumper surplus of more than 1 billion pula (116.6 million U.S. dollars) as increased diamonds sales powered exports up by 17 percent against a modest 3 percent rise in imports.According to figures released by Statistics Botswana (SB) on Tuesday, the month of March recorded a trade surplus of 116.6 dollars, a 255 percent jump from February surplus of 33.2 million dollars.Anchoring March's 17 percent rise in exports was a 800 million pula (93.3 million dollars) jump in diamonds exports to 5.3 billion pula (618.1 million dollars) while copper exports also weighed in rising from 243 million pula (33.1 million dollars) to 438 million pula (51 million dollars) between the two months.On a year on year basis, the March 2013 total exports increased by slightly over a 100 percent from the total value of exports realized in March 2012, which stood at 3.1 billion pula (361.5 million dollars).Diamond trade, which comprises both rough and polished stones, accounted for over 85.5 percent of exports with copper and nickel, machinery and electrical equipment contributing 7.1 percent and 2.Vintage bath fixturescarbon sheet 1 percent respectively.On the import side, diamonds again contributed the highest share at 32.1 percent during the month, followed by fuel with 18.4 percent. Machinery and electrical equipment contributed 10.4 percent followed by food, beverages and tobacco and chemicals and rubber products, with 9.3 percent.vacuum bottle 

March's surge in diamond export also pushed the first quarter trade balance into a surplus of 617 million pula (71.9 million dollars), the first quarterly surplus since the third quarter of 2007.The country's trade balance has since 2008 traded heavily in the negative as imports outweigh exports with rolling annual deficits ballooning from 3 billion pula (349 million dollars) in 2008 to 16 billion pula (1.8 billion dollars) in 2012.According to SB figures, 60 percent of Botswana imports came from South Africa while Namibia supplied 12.6 percent. On the other hand the European Union (EU) supplied imports valued at 1.Cast iron clawfoot tubs1 billion pula (128.2 million dollars) during March 2013, representing 20.7 percent of total imports. Imports from Asia were valued at 267.8 million pula (32.4 million dollars) in March 2013, representing 5.2 percent of total imports.The major suppliers of imports from Asia were Israel and China with 2.1 percent and 1.0 percent respectively. On the exports side, EU remained the largest destination for Botswana products with goods valued at 4.5 billion pula (524.8 million dollars),garage equipments representing 72.4 percent of total exports in March 2013.