Norway’s aluminium wire exports volume to drop this year but not the revenue

In the successive year of 2017, when Norway’s aluminium wire exports had increased by about 2 per cent from 70,079 tonnes in 2016 to 71,490 tonnes, the country reportedly saw a year-on-year decline in further exports, found our third-party data.

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In 2018, Norway’s aluminium wire exports were pegged at 70,735 tonnes, down 1.05 per cent from 2017. 2019 is also estimated to see a plunge in Norway’s aluminium wire exports to 69,479 tonnes, down around 2 per cent year-on-year.

But despite the fall in estimated aluminium wire exports volume from Norway this year, the revenue is likely to see a rise, learned the international export-import data. From US$121 million in 2018, Norway’s revenue from wire exports is anticipated to grow to US$123 million in 2019, up about 2 per cent. However, in 2018, Norway’s revenue from exports remained flat compared to that of 2017 at US$121 million, after rising from US$98 million in 2016. This indicates that the year 2017 had seen a rise in Norway’s aluminium wire exports by 23.46 per cent.

The above data also shows that even though the volume of Norway’s aluminium wire exports stand down year-on-year in 2018 and 2019, the revenue refuses to drop.

Sweden is estimated to continue to be the main importer of aluminium wire from Norway and likely to see a rise in volume year-on-year. Since 2016, Norway’s aluminium wire exports to Sweden is found growing with each passing year and 2019 is no exception. In 2016, Norway had exported 16,001 tonnes valued at US$27 million, which in the next year grew to 32,008 tonnes and US$60 million. In 2018, both the volume and value increased further to 32,869 tonnes and US$61 million, which in this year are estimated to hover at 36,136 tonnes valued at US$67 million.