Armenia’s export of aluminium foil during 2019-20 reveals remarkable growth; 4% downturn estimated for 2021
Armenia is an industrial-agrarian country, as metal products remain as one of the major exports. The economy of Armenia counts on manufacturing, services, remittances, and agriculture, while Russia is Armenia's principal export market.
The Joe Biden administration has introduced new tariffs on Armenia’s aluminium foil import to the US, which is considered as the largest export of Armenia to the United States.
The former Soviet republic, Armenia exported 83,219 tonnes of aluminium foil during 2019-20, incurring revenue generation of $206.81 million from the export.
In 2019, the export of aluminium foil by Armenia was documented at 37,421 tonnes, generating earnings of around $96.30 million, whereas, in 2020, the export revealed remarkable growth of 22.38%, as the export volume escalates to 45,798 tonnes and the earnings grew to $110.51 million.
Armenia’s export of aluminium foil for 2021 is estimated to reach 43,918 tonnes, which signifies a downturn by 4.10% in export volume and the earnings anticipated to cross $100 million.
The major trading destinations for Armenia’s export of aluminium foil are Austria, Canada, Belgium, USA, Czech Rep., El Salvador, France, Germany, Italy, Poland, Portugal, UK, etc.
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