Colombia’s import of Aluminium Foil during 2017-19 remains steady: Projected with 79.69% growth for 2020

The economy of Colombia is the fourth largest in Latin America as measured by gross domestic product. Colombia has experienced a historic economic boom over the last decade. In 1990, Colombia was Latin America's 5th largest economy and had a GDP per capita of only $1,500, by 2018 it became the 4th largest in Latin America, and the world's 37th largest.

Aluminium foil importation market of Colombia during 2017-19 exhibited steady growth, as the import volume recorded was 6849 tonnes and the revenue expenditure stood at $27.64 million. The projected import for 2020 has been analysed at 5265 tonnes and expenditures to reach $18.26 million. However, when the analysed import volume and expenditures for 2020 has been added with the previous three years, it depicts 11,754 tonnes and $45.90 million respectively.

In 2017, Colombia’s import of aluminium foil stood at 1614 tonnes and the expenditures remained at $6.69 million, whereas in 2018 the import reflected tick-off by 20.50%, as the import volume stood at 1945 tonnes and expenditures rose to $10.01 million.

The South American nation’s aluminium foil import in 2019 marked with growth by 50.64%, as the import volume climbed to 2930 tonnes and expenditures also stood high to $10.94 million.

The projected import for 2020 has also been evaluated with 79.69% growth, as the import volume to outreach at 5265 tonnes and expenditures to inflate at $18.26 million.

Colombia’s major trading nations for aluminium foil importation are Belgium, Brazil, Chile, China, Costa Rica, Czech Rep., Denmark, France, Germany, Italy, Peru, South Korea, Spain, Switzerland, UK, USA, etc.