Ecuador’s export of aluminium scrap during 2019-21 illustrates gradual downfall; 26% further dip estimated for 2022

The economic recovery of Ecuador has been analysed by several economists to remain relatively weak in 2021 but forecast growth exceeding 4% in 2022, while Ecuador has managed to plug its large fiscal deficit projected to reach $4.8 billion (4.6% of GDP) in 2021— with credits and deferrals. The country’s economic freedom score is 52.4, making its economy the 149th freest in the 2021 Index. Its overall score has increased by 1.1 points, primarily due to improvement in fiscal health. Economic freedom has enhanced in Ecuador for two years in a row, as the economy has climbed a little higher in the mostly unfree category, although there is a long road ahead.

The nation straddling the equator on South America’s west coast, Ecuador exported 10,322 tonnes of aluminium scrap during 2019-21, attracting a revenue inflow of about $41.43 million from the export. The recycling of aluminium is gradually upgrading globally due to its best recycling features of all the metals produced.

Ecuador exported 5258 tonnes of aluminium scrap in 2019, which developed revenue earnings of around $11.78 million, whereas, in 2020, the export exhibited a downfall by 3.68%, as the export volume dipped to 5064 tonnes and the earnings also slipped to $11 million.

In 2021, the export of aluminium scrap from Ecuador was reported again with a plunge of 13.77%, as the export volume illustrated de-growth of volume to 4451 tonnes, counting drop in revenue development to $8.55 million.

The export of aluminium scrap for recycling has been analysed with a further downfall by 25.70% for 2022, as the export volume is tendered to a downfall at 3307 tonnes, while to earnings is estimated to rise and stand at $10.10 million.

The major trading destinations for Ecuador’s export of aluminium scrap are Brazil, China, Hong Kong, Japan, Russia, Saudi Arabia, South Korea, the USA, etc.