South Africa’s export of Aluminium Stranded Wire during 2018-20 exhibits seesaw movement

The economy of South Africa recovered robustly in the Q3 from a plunge inflicted by the coronavirus pandemic. Africa’s second-largest economy expanded 13.5% Q-on-Q in July-September, "largely as a result of the easing of Covid-19 lockdown restrictions," as per statistics agency StatSA. Manufacturing, trade and mining were 'the biggest drivers of growth in the third quarter,' statisticians added.

The southernmost African nation’s export of aluminium stranded wires during 2018-19 was recorded at 1474 tonnes and the revenue earnings stood at $53.12 million. The import for 2020 remained at 517 tonnes and the revenue earnings stood at $18.62 million. However, when the import volume and earnings for 2020 gets summed with the previous two years, it denotes 1991 tonnes and $71.74 million respectively.

South Africa’s export of aluminium stranded wires in 2018 was at 670 tonnes and the revenue accounted for the export remained at $24.72 million, whereas, in 2019, the export saw growth by 20%, as the export volume grew to 804 tonnes and the earnings rose to $28.40 million.

The export for 2020 exhibited with de-growth by 35%, as the export volume dropped to 517 tonnes and the earnings also saw a dip and remained at $18.62 million.

South Africa’s major trading destinations for the exportation of aluminium stranded wire are Botswana, Congo, France, Lesotho, Mozambique, Namibia, Swaziland, Zimbabwe, etc.