Colombia’s export of Aluminium scrap during 2017-20: Volume remains unsettled, earnings drips

Colombia has a thriving market economy based primarily on oil, mining, agriculture, and manufacturing. The country's GDP in 2013 was US$226 billion and per capita GDP was US$10,100, placing it as a middle-income country. Colombia's finance ministry projected an economic contraction of 5.5% for this year, a revision from its previous estimate of a contraction of 1.5% to 2%. In response, the Fiscal Rule Advisory Committee widened the government deficit limit for 2020 to 6.1% of GDP.

The nation’s aluminium scrap export during 2017-19 reflects unsteady as the export volume stood at 25,318 tonnes and the revenue earning exhibited $31.35 million. The scrap export for 2020 has been projected at 8908 tonnes and earning to remain at $7.78 million. However, when the analysed export volume and earnings of 2020 get summed with the existing three years, it displays 34,226 tonnes and $39.13 million respectively.

In 2017, Colombia’s aluminium export was recorded 9049 tonnes and revenue earnings stood at $11.34 million, whereas in 2018 the export saw a fall by 26.38%, as the export volume marked was 6661 tonnes and earnings dropped to $10.20 million.

Colombia’s export of scrap in 2019 has been reflected at 9608 tonnes, with a rise of 44.24%, while the revenue earning dipped and remained at $9.81 million.

The estimated for 2020 has been analysed with de-growth by 7.28% and the earning to drop at $7.78 million.

The major countries importing Colombia’s aluminium scrap are Brazil, Ecuador, Germany, Hong Kong, Mexico, South Korea, Spain, USA, etc.