Botswana Diamond Exports $353 Million in June

(IDEX Online News) – Leading diamond producer and budding diamond center Botswana exported $352.6 million worth of rough and polished diamonds in June bringing half-year exports to $173 billion.

June’s exports are a 47.7 percent decline compared to the $670.8 million exported in June 2011, based on figures released by the Bank of Botswana.

Since the start of the year Botswana’s exports have been lower than in 2011. Exports to date dropped 28.7 percent compared to the first six months of 2011.

Not all is negative, exports in June increased compared to May, up 8.8 percent.

Last week the Kimberley Process revealed that Botswana’s rough production increased to 22.9 million carats, worth $3.9 billion in 2011. This was a 4 percent increase in volume and an uncharacteristic 50.9 percent leap in value.

The increase far exceeds rough diamond price increases in 2011 and may reflect a new way De Beers and Botswana calculate the value of production.