Hong Kong’s import of Aluminium Foil during 2018-20 unveils growth

The year 2020 has been a tough year for Hong Kong’s economy. The region was already in a recession in 2019 due to US-China trade tensions and domestic social unrest. In the first two quarters of 2020, real GDP shrunk by around 9% year-on-year.

Hong Kong’s import of aluminium foil has recorded 5563 tonnes in 2018-19 and the expenditure occurred for the import remained at $22.10 million. The export for 2020 stood at 5900 tonnes and the revenue expenditure accounted for $32.60 million. However, when the import volume and expenditure of 2020 gets added with the existing two years, it denotes 11,463 tonnes and $ 54.70 million.

The region’s import for aluminium foil in 2018 stood at 2777 tonnes and the expenditure remained at $7.85 million, whereas, in 2019, the import saw negligible growth by 0.32%, as the import volume remained at 2786 tonnes, while the expenditure reflected rise by 81.52%, which grew to $14.25 million.

The import for 2020 surged by 111.77%, as the import volume climbed to 5900 tonnes and the revenue expenditure shot up to $ 32.60 million.

Hong Kong’s major trading destinations for the import of aluminium foil are Brazil, Canada, China, Germany, India, Indonesia, Italy, Japan, Malaysia, etc.