(IDEX Online News) – Botswana exported $462.5 million worth of polished diamonds in March, a 50.7% year-over-year increase in exports, based on figures released by the Bank of Botswana. This brings the country’s first quarter diamond exports to $1.019 billion, the highest value ever in the first quarter.
The exceptional level of exports, which include rough and polished diamonds, gained 34% over the first quarter of 2010 and is 0.2% above exports in the first quarter of 2008.
The only other quarterly exports that suppress the latest figures are those made in the second quarter of 2008, $1.056 billion, at the height of pre-crisis period.
The exports bode well for Botswana, which suffered greatly from the drop in diamond exports and prices during and after the crisis. The county is very dependent on its diamond industry, which accounts for about a third of its GDP.
Source: Bank of Botswana