The gradual fall of Namibia’s Aluminium structures importation market during 2017-20

Namibia, a country in southwest Africa, is distinguished by the Namib Desert along its Atlantic Ocean coast. The country's sophisticated formal economy is based on capital-intensive industry and farming. Namibia's economy is heavily dependent on the extraction and processing of minerals for export. Mining accounts for about 12.5% of GDP but provides more than 50% of foreign exchange earnings.

The aluminium structures importation market of Namibia has been showing a gradual fall during 2017-20. The importation volume during 2017-20 remained at 4747 tonnes and the expenditure stood at $233.71 tonnes. The import estimation for 2020 has been analysed to only 1437 tonnes and the expenditure might remain at $68.48 million when added to the last three years though it stands to 6184 tonnes as import volume and $302.19 million as revenue expenditure.

In 2017 the aluminium structures import has been recorded at 1690 tonnes and the foreign revenue expenditure has stood at $77.62 million, whereas in 2018 a de-growth by 8.28%, as the total import volume stood at 1550 tonnes, with Y-o-Y fall by 140 tonnes, though the foreign revenue expenditure rose to $82.17, as this indicates an increase in price.

Namibia’s aluminium structures import in 2019 has also seen a dip by 2.77%, as the total import remained at 1507 tonnes and the expenditure remained to $73.92 million.

The projection for 2020 has been also shown a down-turn by 4.64%, as the import volume might stand up to 1437 tonnes, the lowest in four years.

The major countries that Namibia has been importing the aluminium structures to fulfil its domestic demands are Germany, China, South Africa, Spain, Portugal, Botswana, Italy, etc.