Denmark’s import of Aluminium Tubes or Pipes Fittings during 2018-20 illustrates steady growth

Denmark, a small country with an open economy and a structural balance of payments surplus, the economy remains although prosperous but is highly dependent on foreign trade. This was the major reason Denmark recorded its deepest fall in GDP in the first half of 2020 due to the COVID-19 crisis, although it partially recovered during the second half of the year underpinned by private consumption, for an overall decrease of 4.5%, as reported by IMF. Denmark’s real GDP forecast to expand by a solid 3.5% in 2021 and around 2.5% in 2022, as both domestic and external demand, normalises.

The Scandinavian nation’s import of aluminium tubes or pipes fittings during 2018-19 reached 349 tonnes and the revenue expended for the import stood at $2.21 million. The import for 2020 remained at 196 tonnes and the expenditure accounted for $1.95 million. However, when the import for 2020 gets footed with the existing two years, it signifies 545 tonnes and $4.16 million respectively.

Denmark’s import of aluminium tubes or pipes fittings in 2018 stood at 169 tonnes and the expenditure remained at $0.89 million, whereas, in 2019, the import saw growth by 6.50%, as the import volume rose to 180 tonnes and the expenditure inclined to $1.32 million.

The import for 2020 also illustrates an upswing by 8.88%, as the import grew to 196 tonnes and the expenditure jumped to $1.95 million.

The major trading destination for Denmark’s importation of aluminium tubes or pipes fittings is Austria, Belgium, China, Germany, Netherlands, Switzerland, UK, etc.