Guyana’s import of aluminium structures during 2018-19 reveals drastic downfall; growth re-bounds in 2020

Guyana’s economy demonstrated rapid growth in 2020, despite the devastating effects of the COVID-19 pandemic. According to the World Bank, the country’s GDP is projected to grow by 7.8% in 2021.

The nation on South America’s North Atlantic coast has documented 1325 tonnes of aluminium structures during 2018-19 and the expenditure accounted for the import stood at $3.04 million. The import for 2020 recorded at 817 tonnes and the expenditure registered was $3.01 million. However, when the import volume and expenditure of 2020 gets added with the existing two years, it resembles 2142 tonnes and $6.05 million respectively.

Guyana’s import of aluminium structures in 2018 stood at 940 tonnes and the expenditure remained at $2.01 million, whereas, in 2019, the import revealed a drastic downfall by 59.04%, as the import volume fell to 385 tonnes and the expenditure also dropped to $1.03 million.

The import for 2020 re-bounded growth by 112.20%, as the import volume grew to 817 tonnes and the expenditure surged to $3.01 million.

Guyana’s major trading destinations for the importation of aluminium structures are Canada, China, Hong Kong, Singapore, South Korea, Trinidad and Tobago, USA, etc.