Zimbabwe’s import of aluminium bar rods and profile during 2019-20 displays robust growth; 4% dip predicated for 2021
Zimbabwe is going to utilize more than half of the $961 million allocated by the International Monetary Fund in the form of special drawing rights to support its distressed currency. Mthuli Ncube, Zimbabwe’s finance minister, said: “For the support of the currency we want to hold back about $500 million.”
The landlocked country in southern Africa, Zimbabwe imported 1975 tonnes of aluminium bar rods and profiles during 2019-20 and the expenditure for the import was accounted for $2.96 million.
Zimbabwe’s import of aluminium bar rods and profiles in 2019 was registered at 567 tonnes and the expenditure occurred for the import counted to $1.26 million, whereas, in 2020 the import displayed growth by 148.32%, as the import volume surged to 1408 tonnes and the expenditure also grew to $1.70 million.
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The import for 2021 is evaluated with a downfall by 4.40%, as the import volume is expected to drop at 1346 tonnes, while the expenditure to rise and stand $2.54 million.
Zimbabwe’s major trading destinations for the import of aluminium bar rods and profiles are China and South Africa.
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