Ecuador’s import of Aluminium Bars Rods and Profiles during 2018-20 displays de-growth; expenditures remains high

The economy of Ecuador is mainly based on mining, agriculture and fishing. The country has substantial petroleum resources, which accounted for 40% of the country's export income and one-fourth of central government budget revenues in recent years. Ecuador has seen the sharpest GDP shrink in at least two decades in Q2 owing to the Covid-19 shock; however, conditions improved somewhat in Q3 but remained downbeat overall.

The South American nation’s import of aluminium bar rods and profiles during 2018-19 stood at 5503 tonnes and the expenditure occurred due to the import remained at $31.31 million. The import for 2020 tends to reach at 1378 tonnes and the revenue expenditure to stand at $24.30 million. When the import volume and expenditure of 2020 gets assorted with the preceding two years, it denotes 6881 tonnes and $55.61 million respectively.

Ecuador’s import of aluminium bar rods and profiles in 2018 was recorded at 3217 tonnes and the expenditure stood at $12.78 million, whereas, in 2019 the import saw de-growth by 28.94%, as the import volume fell to 2286 tonnes, while expenditures rose to $18.53 million.

The import of aluminium bar rods and profiles for 2020 has also been analysed with downturn by 39.72%, as the import is expected to drop at 1378 tonnes, but the expenditure to surge and remain at $24.30 million.

Ecuador’s major trading destinations for the importation of aluminium bar rods and profiles are China, Argentina, Chile, Belgium, Brazil, Colombia, Germany, Italy, Mexico, Netherlands, Peru, Singapore, South Korea, Spain, USA, etc.