Bahamas Aluminium cans importation shrinks during 2018-20

The Bahamas has a general market economy that is hugely dependent on tourism and international financial services. The nation is considered the wealthiest Caribbean country in terms of GDP per capita. According to the updated IMF forecasts from 14th April 2020, due to the Covid-19 pandemic, GDP growth is expected to fall to -8.3% in 2020 and pick up to 6.7% in 2021, subject to the post-pandemic global economic recovery.

The Caribbean nation’s import of aluminium cans during 2018-19 was recorded at 57,041 tonnes and the revenue expended for the import remained at $7.69 million. The import for 2020 is marked to be reaching at 20,283 tonnes and the expenditure to stand at $2.84 million. However, when the import and expenditure for 2020 get assorted with the preceding two years, it signifies 77,304 tonnes and $10.53 million respectively.

Bahamas import of aluminium cans in 2018 stood at 29,621 tonnes and the expenditure accounted was $3.93 million, whereas in 2019 the import drop by 7.43%, as the import fell to 27,420 tonnes and the expenditure also remain to $3.76 million.

The import for 2020 also to stand with de-growth by 26.10%, as the import to remain at 20,263 tonnes and earnings to dip at $2.84 million.

Bahamas major trading nations for the importation of aluminium cans are USA and China.