S&P Upbeat on Botswana Amid Flat Exports

RAPAPORT... Stable demand for Botswana's rough diamonds resulted in flatexports in the first quarter of 2018, according to recent data. Outbound shipments for the January-to-March period slid lessthan 1% to $911 million, from $912.6 million last year, the Bank of Botswanasaid. In January, rough exports totaled $339.7 million, whileshipments for February came to $229 million, and March results were $342.3million. "Diamondsales in the first quarter of 2018 are firmly in line with the same period lastyear, suggesting demand is still firm in the main markets -the US, China and India," according to S&P Global Ratings, which assessescountries' economic potential.Botswana's economy is largely dependent on its rough-diamond trade. S&P maintained its current credit rating and its "stable"outlook for the African nation in an update last week, citing steady diamond demand. "The stable outlook reflects our view that production levelsin Botswana's diamond sector will remain relatively robust, which will in turnsupport government and export revenues and economic growth over the next 12 to 24months," S&P said. S&P predicted Botswana's economy would grow 3.5% in realterms -taking into account inflation - in 2018 due to stable demand fordiamonds and its expectations of strong production.