Trade Balance of Goods in Botswana: Overview from 2017 to 2023

Botswana’s trade balance of goods displayed significant fluctuations between 2017 and 2023, reflecting the country’s dependency on diamond exports and its vulnerability to global market conditions. The balance transitioned from a surplus of 541.1 million USD in 2017 to a deficit of -2,253.9 million USD in 2020, as the COVID-19 pandemic sharply reduced global demand for diamonds, Botswana’s primary export.

In 2022, Botswana temporarily returned to a surplus of 226.8 million USD, supported by recovering diamond exports as global markets stabilized. However, this recovery was short-lived, with the balance reverting to a deficit of -967.8 million USD in 2023, likely due to increased import demand for machinery and fuel as the economy expanded post-pandemic.