Ecuador’s import of Aluminium Foil during 2018-20 remains unsteady

The economy of Ecuador has been one of the most stable in Latin America. Ecuador has enjoyed a healthy economy supported by the dollarization regime, as the country uses the US dollar for its currency and high oil prices. Ecuador was the first country in Latin America to experience a significant outbreak during the global Covid-19 pandemic. After growing by only 0.1% in 2019, Ecuador's GDP is expected to contract by 8.7% in 2020.

The South American nation’s import of Aluminium foil in 2018-19 was recorded at 4554 tonnes and the expenditure occurred for the import was accounted at $24.76 million. The import for 2020 is set to remain at 1740 tonnes and the expenditures to stand at $18.30 million. However, when the import volume and expenditure of 2020 gets added with the existing two years, it denotes 6294 tonnes and $43.60 million respectively.

Ecuador’s import of aluminium foil in 2018 stood at 2211 tonnes and expenditure remained at $10.22 million, whereas, in 2019 the import saw growth by 5.97%, as the import volume of aluminium foil rose to 2343 tonnes and expenditure stood at $14.54 million.

The import for 2020 is evaluated with de-growth by 25.73%, as the import volume to reach at 1740 tonnes, while expenditure to stand high at $18.30 million.

Ecuador’s major trading destination for the importation of aluminium foil are Canada, Chile, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Panama, etc.