Growth in demand for diamonds has helped Botswana's real GDP to grow by 8.4% in the third of 2021 compared to the same period, a year earlier when real GDP fell by 4.5% due to the COVID-19 pandemic.
Statistics Botswana (StatsBots) said diamond traders recorded a growth of 44.8% during the quarter against an increase of 6.2% recorded in the corresponding quarter of 2020.
"The positive growth is due to improved demand for diamonds from the global markets. Diamond production in carats went up by 32.2% during the quarter under review,” it said.
“Rough diamond appetite is gradually gaining traction after relaxation of the COVID -19 travel restrictions which impeded on the sight holding calendar.”
Botswana’s real GDP eased by 8.7% in 2020 compared to a 3% increase in 2019.
The country gets about 30% of its revenues and 70% of its foreign exchange earnings from diamonds.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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