Malta's economy is dependent on foreign trade, manufacturing, and tourism. The economy is severely affected by the COVID-19 pandemic this year. GDP is expected to contract by around 5¾% but should rebound by 6.0% in 2021. A fall in domestic demand is expected to drag imports down at a slower pace than exports in 2020 before imports growth outpaces exports' in 2021.
The former British colony in the Central Mediterranean region nation’s import of aluminium bar rods and profiles during 2018-19 remained at 3118 tonnes and the expenditure accounted for the import stood at $8.90 million. The import for 2020 is framed to be at around 1862 tonnes with expenditures to stand at $4.42 million. However, when the import and expenditure for 2020 get assorted with the existing two years, it stands at 4980 tonnes and $13.32 million respectively.
Malta’s import of aluminium bar rods and profiles during 2018 stood at 1567 tonnes and expenditure occurred remained at $4.20 million, whereas, in 2019 the import saw marginal fall by 1.02%, as the import volume stood at 1551 tonnes and revenue expenditure rose to $4.70 million.
The import for 2020 has been marked with growth by 20.05%, as the import volume is expected to surge at 1862 tonnes, while the expenditure to drop and stand at $4.42 million.
The major trading nations of Malta’s importation of aluminium bar rods and profiles are Albania, Bulgaria, China, Germany, Italy, Turkey, UAE, etc.
Responses
