Stringent Covid-curbing measures that included restrictions against even business travel have taken the shine off Botswana’s annual diamond trade, a revenue generator that contributes roughly 30% to the country’s GDP.
According to data released by the Bank of Botswana, diamond exports in 2020 fell to $2.02 billion compared to the previous year’s figure of $3.05 billion.
Although there was a rebound of 35% in last year’s fourth quarter, it was not enough to claw back losses of 63% and 66% recorded during Q2 and Q3.
The downward trajectory of Botswana’s exports, mainly driven by the coronavirus pandemic, is said to have been exacerbated by the government ring fencing the country against possible infection.
In addition to other trade travellers from abroad, it prevented diamond importers from countries like India, China and the Netherlands from visiting Gaborone.
Ordinarily diamond traders visited Botswana’s capital at least 10 times a year, sources said.
