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Botswana’s diamond-driven economy plunges amid global lab-grown surge, job losses, and falling output.
Botswana’s economy is in crisis as its diamond industry, once the foundation of its prosperity, collapses due to a surge in cheaper lab-grown diamonds from China and India.
Diamond output dropped 43% in Q2 2025—the steepest decline in the nation’s history—leading Debswana to cut revenues in half and halt operations at some mines.
Workers have lost jobs, and many, like Keorapetse Koko, now face debt and lost healthcare.
The World Bank forecasts a 3% economic contraction, the second in a row, worsened by a 15% U.S. tariff on Botswana’s diamonds.
While synthetic diamonds now make up nearly 20% of global sales and dominate the U.S. engagement ring market, their environmental impact remains debated.
The country faces urgent pressure to diversify its economy as natural diamond demand continues to fall.
La economía impulsada por los diamantes de Botsuana se hunde en medio de un aumento mundial de los cultivos de laboratorio, pérdidas de empleos y caída de la producción.