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22 SEPTEMBER 2021 AL CIRCLE

National Institute of Statistics data reveals Cameroon’s aluminium export dropped by 34.7%

EDITED BY : SARNALI CHAKRABORTY 2MINS READ

The Cameroon government agency, the National Institute of Statistics published a report which revealed that the country exported 14,925 tonnes of aluminium in H1-2021 compared to the 22,869 tonnes exported in 2020 during the same period. This shows a year-on-year decline of 34.70%.

National Institute of Statistics data reveals Cameroon’s aluminium export dropped by 34.7%

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One of the main reasons for the decline of aluminium export by Cameroon was due to the financial trouble which ALUCAM was countering, while it is the only producer of aluminium in the CEMAC region. The economic activities in Cameroon are gaining momentum after the negative impact of the pandemic on the local and international business, but ALUCAM’s operations are still under the negative radar.

The decline in the number of productions for Cameroon for H1-2021 was more prominent than what they witnessed in 2020, the time when the pandemic was in full force and its impact was more ragging on the companies.

One of the main reasons for the negative impact on their operation can be the increase in the price of alumina, the main raw material used by ALUCAM and also the cash flow problems experienced by the state firm for the past few years. However, as of July 12, 2021, the price of alumina increased by 52.50%. In July 2021, to gain financial stability, ALUCAM declared an 8% surge in their selling price. But, due to the pressure from the government as well as the shareholder, ALUCOM was forced to take back their deal.

Outlook For The Indian Aluminium Industry

The country earned around XAF16.6 billion of exports from aluminium during H1-2021, dipping further by XAF9 billion compared to the XAF25.7 billion they earned in 2020 during the same period. In 2021, earnings from aluminium export were 2% of the total revenue of the country, making aluminium the 11th exported product generating the most revenues to the country.


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EDITED BY : SARNALI CHAKRABORTY 2MINS READ

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