South Africa's gross domestic product (GDP) has fallen for the fourth consecutive quarter, putting the country in a severe recession. The GDP fell by just over 16.4% between the first quarter and second quarter of 2020, resulting in an annualised growth rate of -51%. Although for decades manufacturing has employed more people and produced a greater proportion of gross domestic product (GDP) than mining has, the mining sector continues to form the core of the South African economy as mining-centred holding companies invest in other economic activity.
The Southernmost African nation’s import of bauxite during 2017-19 was recorded at 14,466 tonnes and the bauxite import for 2020 is expected to remain at 2822 tonnes, however, when the import volume gets added with the preceding 3 years it reflects 17,228 tonnes.
In 2017, South Africa’s bauxite import stood only at 2432 tonnes, whereas in 2018, it soared to 6993 tonnes, a growth of 187.54% and surplus by 4561 tonnes on Y-o-Y.
South Africa’s import in 2019, depicted dip by 27.91%, as import volume dropped to 5041 tonnes.
The projected bauxite import for 2020 has been analysed with 63.85% downfall, as the import volume to stand at 2822 tonnes only.
South Africa’s major trading destinations for the importation of bauxite are Brazil, China, Guyana, India, Hungary, etc.
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