Kuwait’s export of aluminium scrap during 2019-21 illustrates a volatile trend; 15% dip estimated for 2022

The scrap metal of the aluminium is generated in various ways in the manufacturing process and used by the end-user. However, nowadays, the processing of aluminium scrap primarily chips and used drink cans have attracted increasing observation. Earlier, the usage of recycled or secondary scrap was a done in a little portion compared to the global aluminium industry’s production, while the situation has changed now due to the environmental impact and sustainability reasons.

The World Bank has reported that the petroleum-based wealthy economy of Kuwait drives the nation to be the fifth richest in the world by gross national income per capita.

A highly developed welfare state with a free-market economy, Kuwait exported 28,564 tonnes of aluminium scrap from 2019 to 2021, incurring revenue earnings of around $38.79 million from the export.

Kuwait export 5790 tonnes of aluminium scrap in 2019, which attracted earnings of $6.59 million, whereas, in 2020 the export illustrated a booming outflow of aluminium scrap by 19,637 tonnes, a sudden rise by 239.15% counting earnings to around $31 million.

In 2021, the aluminium scrap export of Kuwait demonstrated a sharp downfall of 525.98%, as the export volume dropped to 3137 tonnes keeping earnings at $1.2 million.

The export for 2022 is analysed with a further downfall of 14.82%, as the export volume is anticipated to stand at 2672 tonnes, while earnings remain at $1.48 million.

The major trading nations for Kuwait’s export of aluminium scrap are Austria, Belgium, India, Italy, Thailand, South Korea, etc.