Zambia’s import of aluminium stranded wires during 2018-20 manifests robust growth; 11% drop predicted for 2021

The Zambian economy drove towards a deep recession due to the unfavourable impact of the COVID–19 pandemic. In 2020, the real GDP plunged by an estimated 4.9%, following the 4.0% growth in 2018 and 1.9% in 2019.

The landlocked southern African nation, Zambia, during 2018-20 recorded 6139 tonnes of aluminium stranded wires and the expenditure occurred for the import accounted for $12.08 million.

Zambia’s imported only 318 tonnes of aluminium stranded wires in 2018 and the expenditure remained at $1.32, whereas in 2019, the import grew by 60.06%, as the import volume grew to 509 tonnes and the expenditure inclined to $1.92 million.

The demand for aluminium stranded wire in the country manifested robust growth in 2020, which generated the import volume to 5312 tonnes, an upswing by 943.61% and the expenditure leapt to $8.84 million.

In 2021, Zambia’s import for aluminium stranded wire is analysed with a dip of 10.67%, as the import volume is expected to fall at 4745 tonnes, while the expenditure is expected to stand at $8.67 million.

The major trading destinations for Zambia’s importation of aluminium stranded wires are China, India, South Africa, etc.

source https://www.alcircle.com/news/zambias-import-of-aluminium-stranded-wires-during-2018-20-manifests-robust-growth-11-drop-predicted-for-2021-67779