Chile’s import of Aluminium cans during 2018-20 exhibits downmarket, expenditure remains high

The economy of Chile is a market economy and high-income economy as ranked by the World Bank, and is considered one of South America's most prosperous nations. According to IMF estimates, inflation reached 2.3% in 2019 and is expected to slightly increase to 3.4% in 2020 and 2.9% in 2021; this means that despite the COVID-19 pandemic Chile's Central Bank target of 3% of inflation is still met.

The South American nation’s aluminium cans import during 2018-19 has been recorded at 3674 tonnes and expenditure stood at $39.04 million. The projected import for 2020 is analysed at 957 tonnes and expenditure is expected to rise and remain at $22.11 million, however, when the import and expenditure get added with previous two months, it demonstrates 4631 tonnes and $61.15 million respectively.

In 2018, Chile’s import of aluminium cans remained at 2452 tonnes and accounted $19.00 million as expenditure towards import, whereas in 2019, the import saw drop by 50.16%, as the import fell to 1222 tonnes, while expenditure rose to $20.04 million.

The analysed import volume for 2020 has also been marked with downswing by 21.68%, as the import volume is expected to further drop at 957 tonnes, whereas expenditure is expected to surge at $22.11 million.

Chile’s major trading nations for the importation of aluminium cans are Belgium, Brazil, China, Costa Rica, Germany, Italy, Mexico, Peru, etc.