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08 APRIL 2020 AL CIRCLE

Iraq’s import market of Aluminium Bar Rods and Profiles stands rock solid during 2017-20

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

The National Investment Commission (NIC) of Iraq has announced five new investment opportunities in Iraq and it includes aluminium.

Iraq’s import of aluminium bar rod and profiles during 2017-19 has shown very positive growth for the industry as the total importation volume stood at 92,972 tonnes, while the foreign income expended stood at $290.93 million.

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Iraq's import of aluminium bar rod's

Iraq, the oil-rich country is also recovering from the civil war and needs to invest hugely in infrastructure and development and the need for aluminium will be enterprising in the sector.

In 2017 the total aluminium bar rod and profiles stood at 29,719 tonnes, whereas the amount paid remained at $93.76 million.

The Aluminium bar rod and profiles importation of Iraq in 2018 got a rise by 5.43%, as the total importation stood at 31,333 tonnes, whereas the expended amount stood at $97.44 million.

In 2019 the import again tended towards inclination as the total import reflected 31,920 tonnes, growth by 1.87%, and the value expended was $99.73 million.

The projected figure for the importation of aluminium bar rods and profiles in 2020 has been analysed at 30,872 tonnes. When added with the last three it stands at 123,844 tonnes and the amount paid to be reflected for 4 years will remain at $389.68 million.

Report on Industry 4.0 in Aluminium

The major trading partners of Iraq for the importation of aluminium bar rods and profiles are China, Egypt, Greece, Jordan, Turkey, etc.

 


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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