As per the data revealed by Organisation for Economic Co-operation and Development (OECD), the South African economy is projected to rebound by 3.8% in 2021 and 2.5% in 2022. The powerful rebound at the end of 2020 has decelerated in the first half of 2021 due to a protracted second wave of the Covid-19 that has held back economic activity. The growth is projected to pick up in the second half of the year, driven by domestic demand and commodity exports.
Africa’s third-largest economy, South Africa exported 64,021 tonnes of aluminium cans during 2018-19 and the foreign revenue earnings accounted for from the export was $1.206 billion. The export for 2020 remained at 28,876 tonnes and the earnings occurred was $561.22. However, when the export volume and earnings of 2020 get assorted with the existing two years, it unfolds 92,897 tonnes and $1.768 billion respectively.
South Africa’s export of aluminium cans in 2018 was registered at 19,538 tonnes and the earnings recorded remained at $356.06 million, whereas in 2019, the export saw enterprising growth by 127.67%, as the export volume surged to 44,483 tonnes and the earnings also soared to $850.90 million.
In 2020, the export notified a downfall by 35.08%, as the export volume plunged to 28,876 tonnes and the earnings fell to $561.22 million. The Covid-19 pandemic created lockdown created a huge drop in demand from the export flow to the international market.
The major destinations for South Africa’s export of aluminium cans are Angola, Argentina, Botswana, Lesotho, Mozambique, Namibia, Nigeria, Zambia, Zimbabwe, etc.
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