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02 FEBRUARY 2021 AL CIRCLE

Bangladesh import of Aluminium Foil during 2018-20 reveals an enterprising market

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

Bangladesh has recorded as one of the rapid growth rates in the world in the past few years with a stable economic performance that has helped to reduce poverty and social inequalities. According to the updated IMF forecasts from 14th April 2020 GDP growth was estimated to have reached 7.9% in 2019 and is forecast to fall to 2% in 2020 due to the outbreak of the COVID-19 and pick up to 9.5% in 2021. The post-pandemic global economic recovery and the private consumption boosted by strong remittance flows from the Bangladeshi diaspora around the world are expected to be the key drivers of growth in 2021.

Bangladesh import of Aluminium Foil

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The South Asian nation’s import of aluminium foil during 2018-19 was recorded at 6798 tonnes and the expenditure occurred towards the import was $21.73 million. The import for 2020 stood at 10,638 tonnes and the expenditure remained at $22.30 million. However, when the import volume and expenditure for 2020 gets assorted with the existing two years, it demonstrates 17,436 tonnes and $44.03 million respectively.

Bangladesh import of Aluminium Foil

Bangladesh import of aluminium foil in 2018 stood at 2798 tonnes and the expenditure remained at $12.72 million, whereas, in 2019, the import saw growth by 42.95%, as the import volume grew to 4000 tonnes, while the dropped to $9.01 million.

The import for 2020 reveals a surge in import by 165.95%, as the import volume inclined to 10,638 tonnes and the expenditure also rose to $22.30 million.

Report on Global Aluminium Industry Outlook 2021

Bangladesh major trading destinations for the importation of aluminium foil are China, Germany, Italy, Singapore, South Korea, Switzerland, etc.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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