Latvia’s import of Aluminium Foil during 2018-20 illustrates an uneven movement

Latvia confronted a significant change in the political ecosystem in 2020. Anticipating 2021, the major issues include the COVID-19 crisis, taking into account the COVID-19 health crisis, the GDP growth forecast for 2021 has been revised downwards to 5.1%, from the 6.7% projected earlier.

The Baltic nation’s import of aluminium foil during 2018-19 stood at 1006 tonnes and the expenditure that occurred for the import remained at $4.85 million. The import for 2020 stood at 455 tonnes and expenditure recorded was $2.35 million. However, when the import volume and expenditure of 2020 gets added with the previous two years, it signifies 1461 tonnes and $7.20 million respectively.

Latvia import of aluminium foil in 2018 stood at 476 tonnes and the expenditure accounted at $2.17 million, whereas, in 2019, the import saw a rise by 11.34%, as the import volume grew to 530 tonnes and the expenditure lifted to $2.68 million.

The import for 2020 illustrated de-growth by 14.15%, as the import volume dropped to 455 tonnes and the expenditure also devalued to $2.35 million.

Latvia’s major trading destinations for the import of aluminium foil are Austria, Bulgaria, China, Czech Rep., Estonia, Germany, Lithuania, Italy, etc.