Based on data published by the Bank of Botswana, media reports indicate that the country’s diamond exports for 2015 declined 38% in value terms y-o-y to US$ 2.4 billion from exports worth US$ 3.9 billion in 2014. This is the lowest export figure in six years the reports said – Botswana’s diamond exports had fallen to a low of US$ 1.8 billion in 2009 at the time of the global financial crisis. 

The majority of diamond exports out of Botswana are accounted for by Debswana – the joint venture company between the Government of Botswana and De Beers – which owns four mines.

Botswana’s export figure mentioned above do not include the diamonds that De Beers brings into the country from other mining centres like Canada, South Africa and Namibia for re-export through its sights which are now held in Gaborone, Botswana.

Media reports quoted consultancy firm, Econsult – which believes that the future of the diamond industry is not as gloomy as the current outlook suggests – to say: "Combined with reasonably good jewellery sales over the peak Christmas period, the diamond pipeline is flowing again as demand is rising for polished goods, and this will in turn help rough demand." 

Bearing this out is the heightened demand for rough – at the first De Beers sight held in Botswana in January, the Company reported it sold rough diamonds to the value of US$ 540 million as against US$ 248 million worth of rough diamonds sold at the previous sight, which was the last sight of 2015.