Colombia’s import of Aluminium Tubes and Pipes during 2018-20 illustrates upswing; expenditures shrink

Colombia hosting almost 1.8 million Venezuelans as of May’20 stands by far the largest destination country for displaced Venezuelans. Since the beginning of the crisis in Venezuela, the Colombian government has maintained an open and constructive response towards the arrival of displaced Venezuelans. The country’s economic lockdown and quarantine have resulted to plunge Colombia’s GDP to fall by almost 8% in 2020, driving the country into its first recession in two decades. This economic slowdown is having severe effects on the Colombian labour market, with the unemployment rate reaching 19.8% in June 2020.

The transcontinental nation’s import of aluminium tubes and pipes during 2018-19 was recorded at 3535 tonnes and the foreign revenue expended on the import remained at $ 12.16 million. The import for 2020 stood at 2784 tonnes and the expenditure accounted for $5.52 million. However, when the import volume and expenditure of 2020 gets incorporated with the preceding two years, it denotes 6319 tonnes and $ 17.68 million respectively.

Colombia’s import of aluminium tubes and pipes in 2018 remained at 1507 tonnes only and the expenditure occurred was $ 5.92 million, whereas, in 2019, the import rose by 34.57%, as the volume grew to 2028 tonnes and the expenditure stood at $ 6.24 million.

The import for 2020 also illustrates upswing by 37.27%, as the import volume jumped to 2784 tonnes, while the expenditure drops to $ 5.52 million.

Colombia’s major trading destinations for the importation of aluminium tubes and pipes are Belgium, China, Ecuador, Germany, Italy, Mexico, Spain, Turkey, USA, etc.