From 2013 to 2023, Botswana's natural diamond production has witnessed fluctuating growth and decline, peaking at 17.3 million carats in 2014 and dipping to its lowest at 13.7 million carats in 2020. In 2023, production stood at 16.4 million carats, a slight decrease from the previous year. Over the last two years, the year-on-year variations were minimal, showing a decrease of 0.22% in 2022 and another 0.22% in 2023. Throughout the last five years, the compound annual growth rate (CAGR) was -0.84%, indicating a slight downward trend.
Looking forward from 2024 to 2028, forecasts suggest a continued gradual decline in production with an annualized decrease of -0.18%, ultimately leading to a projected output of 16.21 million carats by 2028.
Future trends to watch for include technological advancements in diamond mining, global economic conditions affecting demand, and potential policy changes regarding natural resources in Botswana. Sustainability practices and shifts towards synthetic diamonds may also impact long-term production trends.
