Iceland’s export of Aluminium scrap during 2018-20 reveals upswing, earnings remain unstable
Iceland is considered as a stable democracy with an active consumer economy. The pillars of the Icelandic economy are aluminium smelting, fishing, and tourism and the major material exports are aluminium products and fish products, and main service exports are tourism-related services.
The Nordic island nation’s export of aluminium scrap during 2018-19 was accounted at 11,006 tonnes and the revenue earnings stood at $7.85 million. The export for 2020 is marked at 5910 tonnes and the earnings to stand at $3.93 million. However, when the export volume and earnings of 2020 get added with the existing two years, it denotes 16,916 tonnes and $11.78 million respectively.
Iceland’s export of aluminium scrap in 2018 was recorded at 5273 tonnes and the earnings remained at $3.60 million, whereas in 2019 the export revealed growth by 8.72%, as the export volume rose to 5733 tonnes and the earnings grew to $4.25 million.
The export for 2020 has been highlighted with growth by 3.08%, as the export volume to outreach 5910 tonnes, while earnings to drop at $3.93 million.
The major trading destinations for Iceland’s export of aluminium scrap are Germany, China, Netherlands, UK, etc.
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