South Africa’s Aluminium foil export volume remains dwindling during 2017-20, revenue generation reflects growth

South Africa has a mixed economy in which there is a variety of private freedom, combined with centralized economic planning and government regulation. South Africa is a member of the Southern African Development Community (SADC). The country’s GDP grew at an estimated 0.7% in 2019, down from 0.8% in 2018, and is projected to rise to 1.1% in 2020 and 1.8% in 2021 amid domestic and global downside risks. A contraction in agriculture and mining drove slow growth in 2019. Among the key sectors that keep South Africa's economic engine running are manufacturing, wholesale and retail trade, financial services, transport, mining, agriculture and tourism.

The aluminium foil export volume of South Africa has been dwindling as recorded during 2017-19, as the total export quantity stood at 12,387 tonnes and the revenue generation at this phase remained at $232.77 million. The estimated export volume of 2020 has been analysed at 3436 tonnes and the revenue earnings are expected to reach $80.43 million. However, when the preceding three years export volume and earnings get added with the analysed figures of 2020, it reflects 15823 tonnes and $313.20 million.

In 2017 the aluminium foil export market of South Africa has recorded 3454 tonnes in volumes and the foreign revenue generation remained at $64.93 million, whereas in 2018 the export volume surged to 5373 tonnes, growth by 55.55% and the earnings also jumped to $91.10 million.

Africa’s 2^nd largest economy in 2019 has recorded the export volume of aluminium foil at 3560 tonnes, downfall by 33.74% and the income remained at $76.74 million. The projected export for 2020 has also been analysed to remain at 3436 tonnes, again dip by 3.48%, while the income rose to $80.43 million.

 The major buyers of South Africa’s aluminium foil as country-wise are Belgium, Botswana, Chile, China, Congo, Czech Rep, Germany, France, Italy, India, Lesotho, Swaziland, Malawi, Mexico, Nigeria, etc.