Namibia: Diamond Exports Drop 30 Percent

DIAMOND exports fell by nearly 30 per cent last year as the global economic crisis shrunk spending power worldwide.

Despite mining 2,1 million carats, Namdeb only managed to export 1,611 million carats last year, well below the 2,265 million the company produced in 2007. Compared to 2006, diamond exports last year shrunk by 33 per cent, according to the mid-year economic outlook of Standard Bank Group Economics. The analysis mirrors Namdeb's woes as reported by the company.

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