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

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.

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.

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.

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.