Azerbaijan’s import of aluminium foil during 2018-20 illustrates sharp growth to marginal dip

As per the World Economic Outlook report presented by the International Monetary Fund in April, it stated that Azerbaijan’s economy is forecasted to grow at 2.3% in 2021. Meanwhile, the national economy is expected to grow at 1.7% in 2022. The forecast for the current year is improved by 0.3% points compared to the previous forecast.

The nation which spans Asia and Europe, Azerbaijan has recorded 1202 tonnes of aluminium foil during 2018-19 and the expenditure occurred for the import was $4.35 million. The import for 2020 stood at 753 tonnes and the expenditure accounted was $2.74. However, when the import volume and expenditure of 2020 gets assorted with the existing two years, it denotes 1955 tonnes and $7.09 million.

In 2018, Azerbaijan’s import was registered at 377 tonnes and the expenditure remained at $1.25 million, whereas, in 2019, the import soared by 118.83%, as the import volume rose to 825 tonnes and the expenditure also grew to $3.1 million.

The import for 2020 saw a decline by 8.72%, as the import volume dropped to 753 tonnes and the expenditure also plunged to $2.74.

Azerbaijan’s major trading destinations for the import of aluminium foil are Czech Rep., China, Georgia, Greece, Germany, Poland, Russia, Turkey, Ukraine, UAE, etc.