Gabon is an upper-middle-income country, being the fifth-largest oil producer in Africa it has had strong economic growth over the past decade, driven by its production of oil and manganese. The Executive Board of the International Monetary Fund (IMF) during July’20 approved a purchase of about $152.61 million under the Rapid Financing Instrument (RFI). This had been the second purchase under the RFI to Gabon since the pandemic started. It aims at helping Gabon in meeting its urgent balance of payments needs.
The country along the Atlantic coast of Central Africa recorded 361 tonnes of aluminium foil import during 2018-19 and the expenditure occurred for the import remained at $1.31 million. The import for 2020 stood at 295 tonnes and the expenditure accounted for $1.01 million. However, when the import volume and expenditure of 2020 gets added with the existing two years, it denotes 656 tonnes $2.32 million respectively.
Gabon’s import of Aluminium Foil in 2018 remained at only 81 tonnes, whereas, in 2019, the import grew by 245.67%, as the import volume rose to 280 tonnes and the expenditure also picked up the pace and remained at $0.88 million.
The import for 2020 also demonstrated growth by 5.35%, as the import volume grew to 295 tonnes and the expenditure surged to $1.01 million.
Gabon’s major trading destinations for the import of aluminium foil are Armenia, China, France, etc.
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