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25 DECEMBER 2020 AL CIRCLE

Zimbabwe’s import of Aluminium Bar Rods and Profiles during 2018-19 unveils nose-dip; 2020 shows a sharp upturn

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

According to a new UNDP impact assessment, the COVID-19 outbreak and global knock-on effects could sink or stall Zimbabwe’s ambitious reform agenda as well as efforts to revive its flagging economy, with “disastrous” consequences for the landlocked Southern African country’s poor and vulnerable people. However, Mthuli Ncube, the incumbent Finance Minister stated a few months back that the economy would not be as severely impacted by the COVID-19 pandemic as initially feared and foreign currency inflows had shown resilience. The country was already grappling with runaway inflation, shortages of drugs in hospitals and strikes by public workers before the novel coronavirus arrived in March.

Zimbabwe’s import of Aluminium Bar Rods and Profiles during 2018-19

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The nation famous for Victoria Falls has been recorded with the import of aluminium bar rods and profiles during 2018-19 remained at only 1075 tonnes and the expenditure occurred during the import stood at $30.95 million. The import for 2020 has been marked at 1653 tonnes and the expenditure to stand at $23.05 million. When the import volume and expenditure for 2020 gets assorted with the existing two years, it unfolds 2728 tonnes and $54 million respectively.

Zimbabwe’s import of aluminium bar rods and profiles in 2018 stood at 594 tonnes and the expenditure recorded was $17.90 million, whereas, in 2019 the import unveiled de-growth by 19.02%, as the import volume dropped to 481 tonnes and the expenditure fell to $13.05 million.

The import for 2020 has been highlighted with sharp growth by 242.65%, as the import volume to rise and remain at 1653 tonnes and the expenditure to climb up at $23.05 million.

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Zimbabwe’s major trading destinations for the importation of aluminium bar rods and profiles are South Africa and China.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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