Iran’s import of Aluminium Sheets, Plates and Strips during 2018-20 reflects an upward trend

Iran’s economy is a mixed and transition economy with a large public sector. It is counted as the world's eighteenth largest by purchasing power parity. Some 60% of Iran's economy is centrally planned. Although, FocusEconomics Panellists see the economy contracting 7.3% in SH 2020, which is up 1.2% points from last month's forecast. In SH 2021, the economy is seen growing by 2.6%.

The Western Asian nation’s import of aluminium sheets, plates and strips during 2018-19 was recorded at 8898 tonnes and the expenditures occurred due to the import stood at $14.44 million. The import for 2020 is expected to reach at 6241 tonnes, with expenditure to stand at $12.26 million. However, when the import volume and expenditure for 2020 gets added with the preceding two years, it resembles 15,139 tonnes and $26.70 million respectively.

Iran’s import of aluminium sheets, plates and strips in 2018 stood at 3242 tonnes and foreign revenue expenditure accounted for $7.53 million, whereas, in 2019, the import reflected growth by 74.46%, while the expenditure dropped and remained at $6.91 million.

The import for 2020 has also been marked with growth by 10.34%, as the import expected to reach at 6241 tonnes and expenditures to also rise at $12.26 million.

Iran’s major trading destinations for the importation of Aluminium sheets, plates and strips are China, Greece, Italy, Japan, Slovenia, Turkey, etc.