Mexico’s export of Aluminium cans showcases strong potentiality during 2018-20, earnings cross $1 billion

Mexico ranks as the world's 15 largest economies and is the second-largest economy in Latin America. The country is highly dependent on the United States, its largest trading partner and destination of nearly 80% of its exports. In its most recent January 2021 update of the World Economic Outlook, the IMF has revised its GDP growth projections for Mexico to 4.3% in 2021 and 2.5% in 2022.

The Latin American nation’s export of aluminium cans during 2018-19 remained at 6.38 million tonnes and the earnings recorded for the export stood at $572.40 million. The export for 2020 was spotted at 10.60 million tonnes and the revenue generated stood at $728.28 million. However, when the export volume and earnings of 2020 get assorted with the existing two years, it showcases 16.98 million tonnes and $1.3 billion respectively.

Mexico’s export of aluminium cans in 2018 stood at 3.12 million tonnes and the earnings remained at $307.84 million, whereas, in 2019 the import saw a rise by 4.48%, as the import volume grew to 3.26 million tonnes, while earnings dropped to $264.56 million.

The import for 2020 revealed a huge growth of 225.15%, as the import volume sky-rocketed to 10.60 million and the earnings climbed to $728.28 million.

The major trading destinations for Mexico’s export of aluminium cans are Argentina, Canada, Chile, El Salvador, Guatemala, Guyana, USA, etc.