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Present condition of Botswana trade
According to Botshabelo Mafatlhane, chief trade officer with Ministry of Trade and Industry in Botswana present condition of Botswana export, import and trade section is far from being ideal. He has projected that in foreseeable future Botswana import and export sector would be affected as a result of global financial downturn.
Major areas of Botswana export, import and trade
Botshabelo Mafatlhane has also reiterated that most countries across financial globe would be depending on a sole area of strength for survival as far as export and import were concerned. He said that as far as Botswana is concerned major areas of strength in this respect are beef and diamonds.
Botswana primarily exports beef to a number of countries in Europe. However, of late beef exports of Botswana have been failing to meet required levels as a result of credit shortages in countries that have traditionally been its prominent beef export partners. Botshabelo Mafatlhane also stated that Botswana has been successful to generate a market in USA for textile commodities manufactured by it. It can be expected that this would come in handy in near future.
Diamonds and Botswana export
Botswana is among leading producers of diamonds. Over years diamonds have been a major area of strength for Botswana export sector. It normally is responsible for contributing 70 percent to exports of Botswana.
As of now, future of diamond exports of Botswana hinges on some factors such as levels of retail demand as well as renewal of availability of credit. Economists have said that levels of retail demand would grow slowly as in almost all prominent industrialized countries levels of consumer confidence are at their lowest ebb. They have also stated that consumers would initiate purchasing luxury items at later stages in recovery process of world economy.
Botswana export and import 2008
In 2008 aggregate value of goods and services exported by Botswana was $5.127 billion. It exported goods and services such as diamonds, soda ash, copper, meat, nickel and textiles. In that same period it imported goods and services worth $3.931 billion.
It imported goods and services like foodstuffs, textiles, machinery, fuel and petroleum products, electrical goods, wood and paper products, transport equipment and metal and metal products.