Cyprus import of Aluminium structures during 2018-19 remains flattened, 2020 reflects growth

Constantinos Petrides, the Finance Minister of Cyprus on 28^th January 2021, commented that the economy is expected to rebound by 4.5% of GDP this year following a pandemic-induced contraction of around 5.5% in 2020. In an investment conference, the minister said “the growth estimate comes attached with a great level of uncertainty because of how the pandemic may evolve.”

The island nation in the eastern Mediterranean Sea has recorded 3314 tonnes of aluminium structures import during 2018-19 and the revenue expended on the import stood at $13.14 million. The import for 2020 remained at 2183 tonnes, with expenditure accounted for $9.72 million. However, when the import volume and expenditure of 2020 gets assorted with the previous two years, it denotes 5497 tonnes and $22.86 million.

Cyprus import of aluminium structures during 2018 stood at 1668 tonnes and the expenditure remained at $5.85 million, whereas, in 2019, the import saw marginal de-growth by 1.31%, as the import volume fell to 1646 tonnes, while the expenditure rose to $7.29 million.

The import for 2020 reflects an upswing of 32.62%, as the import volume grew to 2183 tonnes and the expenditure stood to $9.72 million.

Cyprus major trading destinations for the importation of aluminium structures are Albania, China, Austria, Canada, Czech Rep., Germany, Greece, Italy, Lithuania, Lebanon, Portugal, Spain, UK, USA, etc.