Botswana Rough Diamond Exports Down 17% To $4B Last Year

Botswana's rough diamond exports dropped 17% on the year to about $4 billion in 2017, according to data from the central bank.

The decline for the year in the world’s second-largest diamond producing country in both volume and value terms overall was due to lower demand in the second half of the year.

The Botswana central bank data showed that the state earned $70 million in December from rough exports from the previous month’s $378 million.

Botswana exported $4 billion of rough in 2016, according to the Bank of Botswana. Fourth-quarter exports leapt to $1 billion from $114 million, a year before.

Botswana’s total exports, which are dominated by diamonds, grew by 21 percent in 2016 from the previous year, mainly as a result of the recovery in the diamond market.