Zimbabwe’s import of aluminium cans during 2019-20 reveals enterprising growth; 2021 projected with marginal rise, while expenditure to surge

The economy of Zimbabwe rooted in recession already before the COVID-19 pandemic and exhibited with 6% shrink in 2019. Output dropped due to economic uncertainty and the withdrawal of subsidies on maize meal, fuel and electricity prices, while the other factors were suppressing foreign exchange earnings and excessive currency printing. The genesis of the COVID–19 pandemic and continued drought led to a 10% contraction in real GDP in 2020. Inflation soared, averaging 622.8% in 2020, up from 226.9% in 2019. Adequate economic recovery is predicted in 2021, only if effective measures are taken to stabilize foreign exchange and avoid excessive money creation, but the outlook remains gloomy by several factors.

The landlocked nation in the southern African region recorded the importation of 3557 tonnes of aluminium cans during 2019-20 and the foreign revenue expended for the import was $7.71 million.

Zimbabwe’s import of aluminium cans in 2019 was docketed at 1213 tonnes and the expenditure occurred was $3.14 million, whereas, in 2020, the import soared by 93.23%, as the import volume rose to 2344 tonnes and the expenditure also grew to $4.57 million.

The import for 2021 has been analysed with marginal growth of 3.54%, as the import volume is expected to remain at 2427 tonnes, while the expenditure is projected to surge up to $8.37 million.

The major trading destinations for Zimbabwe’s import of aluminium cans are China and South Africa.