Botswana’s rough diamond exports fell 68% in the second quarter of the year as the Coronavirus pandemic continue to wreak havoc, according to news reports.
Reuters quoted the country’s central bank as saying that no rough exports were recorded in May, while only $20 million worth of diamonds were exported in June.
The diamond business was affected by global travel restrictions to curb the spread of the virus.
Botswana also closed its borders last March and imposed a nationwide lockdown that was only called off towards the end of May.
Debswana, a joint venture between Botswana and De Beers, saw its exports of diamonds in the second quarter of 2020 dropping to $293 million from $916 million, a year earlier.
Diamonds account for about 70% of the Botswana’s exports.
The country is expected to record a budget deficit of $1.7 billion over a period of two years and five months.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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