Chile’s export of Aluminium scrap during 2018-20 illustrates rapid growth

In October’20, the Central Bank of Chile stated that its economic activity dipped 1.2% in October from a year ago, as the economy moved closer to growth after months of contraction caused by the Covid-19 pandemic. The bank’s IMACEC economic activity index encompasses about 90% of the economy tallied in gross domestic product figures. The October figure was the economy’s best showing since February’20, when the economy grew 3.3%. But economic activity in Chile remained shuffled by the Covid-19 outbreak, the bank said, even though cases of COVID-19 have fallen with the onset the southern hemisphere’s spring.

The nation along South America’s western edge has recorded with 28,484 tonnes of aluminium scrap export during 2018-19 and the earnings remained at $42.71 million. The export for 2020 stood at 22,560 tonnes and the revenue generation accounted for the export remained at $29.80 million. However, when the export volume and earnings for 2020 gets summed with the existing two years, it resembles 51,044 tonnes and $72.51 million respectively.

Chile’s export of Aluminium scrap in 2018 stood at 13,411 tonnes and the revenue earned recorded to $19.97 million, whereas, in 2019, the export inclined by 12.39%, as the export volume rose to 15,073 and the earnings also grew to $22.74 million.

The import for 2020 again illustrated growth by 49.67%, as the export volume surged to 22,560 tonnes and the earnings also shot up to $29.80 million.

Chile’s major trading nations for the export of aluminium scrap are Argentina, Belgium, Brazil, Ecuador, Germany, Greece, India, Malaysia, Mexico, Netherlands, Poland, South Korea, Spain Taiwan, UAE, etc.