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21 SEPTEMBER 2021 AL CIRCLE

Cyprus import of aluminium bar rods and profiles during 2018-20 exhibits enterprising growth followed by a marginal drop; 12% surge expected for 2021

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

The Finance Minister of Cyprus, Constantinos Petrides in August 2021 stated that the economy is anticipated to grow by more than 5.5% in 2021, as preliminary estimates showed a 12.90% year-on-year growth in the second quarter of the year. The minister further added that the Q2 rate was markedly better than expected, signalling higher full-year growth than forecast.

Cyprus import of aluminium bar rods and profiles

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The island nation in the eastern Mediterranean Sea, Cyprus imported 7034 tonnes of aluminium bar rods and profiles during 2018-20 and the expenditure occurred for the import accounted for $23.48 million.

In 2018, Cyprus imported 1226 tonnes of aluminium bar rods and profiles and the expenditure counted was $4.31 million, whereas, in 2019, the import saw an enterprising growth of 143.14% and the expenditure also climbed to $9.83 million.

Cyprus import of aluminium bar rods and profiles

The aluminium bar rods and profiles importation by Cyprus in 2020 was recorded at 2827 tonnes, which denotes a downfall of import by 5.32%, the expenditure also dipped to $9.34 million.

The import for 2021 is analysed with 11.77% growth, as the volume is projected to remain at 3160 tonnes and the expenditure to stand at $9.96 million.

Outlook for the Indian Aluminium Industry

The major trading countries for Cyprus import of aluminium bar rods and profiles are Belgium, China, Germany, Greece, Italy, Lebanon, Poland, Slovakia, Netherlands, Spain Turkey, UAE, etc.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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