Aluminium export from Middle East grows 7.05% YoY in 2016; Turkey remains top importer

The Middle East is marching ahead to emerge as the next biggest aluminium market in the world after the U.S. and China. From being an exclusively oil-based economy it has already grown on to establish itself as a key producing region in the global aluminium map. With five of the GCC’s principal aluminium producers manufacturing 5,229,115 tonnes of primary aluminium in 2016 it now constitutes 10 per cent of the total world production. Of the total GCC's aluminium production, 40 per cent is utilised by the downstream aluminium industries in the Gulf while the rest 60 per cent is exported to different parts of the world.

{newsStudioGallery}

Total export of aluminium (alloyed and non-alloyed ingot) from the Middle East has grown at a moderate rate over the last two years. International trade data shows the region exported 3.97 million tonnes of aluminium in 2015, which grew by 7.05 per cent to reach 4.25 million tonnes in 2016. In 2017, the Middle Eastern countries are estimated to export around 3.89 million tonnes of aluminium.

UAE remains the top exporter of aluminium ingots in the Middle East. It is headquartered by the Emirates Global Aluminium. UAE is followed by Saudi Arabia, Qatar, Bahrain, Oman, and Iran as the major exporter of aluminium in the Gulf region.

{googleAdsense}

Revenue from aluminium exports has also risen significantly in the Middle East. The total aluminium export from the region was valued at US$9.2 billion in 2015, which increased to reach US$9.6 billion in 2016. In 2017, the figure is estimated to further rise to total at US$9.8 billion, up 2 per cent year-on-year.

On the import side, Turkey remains the top importer of aluminium ingots (alloyed and non-alloyed) in the Middle East. The country imported 853840.4919 tonnes of aluminium in 2015, which soared by 23.3 per cent to reach 1.05 million tonnes in 2016. In 2017 till October, Turkey is estimated to import around 818892.961 tonnes of aluminium, data reveals.

The Middle East aluminium industry is essentially export driven. With technology innovation as the key sustainable competitive advantage for the major aluminium producers, the region is forecasted to further expand its export market in the years to follow.