Botswana Diamond Exports Just $260 Million in July

Botswana is the world's leading diamond producer by value, however the last few months showed a marked decline in its exports of rough and polished diamonds, based on figures published by the Bank of Botswana.

July's exports are a 26.1 percent decline compared to June, a reaction to lower demand for rough by Sightholders as well as an abundance of polished goods in the market.

The Bank of Botswana upwardly adjusted export figures for the first half of 2012. According to the restated figures, the country exported a total of $2.02 billion worth of rough and polished diamonds in the first six months of the year, for a total of $2.28 billion in the year to date.

In its report for June, the bank stated total exports in the first half of the year at $1.73 billion.