Namibia’s import of Aluminium Foil during 2018-20 reflects rapid growth with a steady fall

Rowland Brown of Cirrus Capital, a local economist forecasts a 3.8% growth for the Namibian economy in 2021 after it experienced a contraction of 8.4% in 2020. “The contraction in 2020 will be the largest Namibia has recorded in her history, reflective not only of adverse external conditions but also the result of domestic restraints to economic activity in response to the Coronavirus pandemic.”

The southwest African nation’s import of aluminium foil during 2018-19 recorded at 369 tonnes and the expenditure occurred remained at $17.28. The import for 2020 stood at 195 tonnes and expenditure accounted for the import stood at $8.73 million. However, when the import and expenditure of 2020 get assorted with the existing two years, it resembles 564 tonnes and $26.01 million respectively.

Namibia’s import of aluminium foil in 2018 remained at 168 tonnes and the expenditure stood at $168 million, whereas, in 2019, the import rose by 19.64%, as the import volume grew to 168 tonnes and the expenditure also inclined to $8.83 million.

The import for 2020 was marked with a marginal drop by 2.98%, as the import volume fell to 195 tonnes and the expenditures remained at $8.73 million.

The major trading nations for the importation of aluminium foil are China, South Africa, etc.