Panama’s export of Aluminium scrap reveals significant growth during 2017-20

Panama has been the fastest-growing economy in Latin America over the past two decades, benefiting from the activity of the canal, the Colon free trade zone (CFZ) and its role as an international banking centre and regional financial hub. The economy of Panama is based mainly on the services sector, which accounts for nearly 80% of its GDP and accounts for most of its foreign income. Panama is a high-income economy with a history of low inflation.

The transcontinental country in Central America and South America has recorded its aluminium scrap export during 2017-19 at 15,569 tonnes and which paved revenue earnings of $12.78 million to the nation.  The export for 2020 has been evaluated at 12,141 tonnes, the highest in the phase and earnings to stand at $9.55 million, however, when the previous three years export volume and earnings get added it exhibits 27,710 tonnes and $22.33 million respectively.

In 2017, Panama’s export of aluminium scrap remained at 2803 tonnes only and earnings stood at $3.30 million, whereas, in 2018 the export saw growth by 51.98%, as the export volume stood at 4260 tonnes while earnings fell to $2.8 million.

Panama’s export of aluminium scrap in 2019, soared to 8506 tonnes, growth by 99.67% and earnings also rose to $6.68 million.

The projected for 2020 has also been analysed with upswing by 42.73%, as the export volume to gain momentum and stand at 12,141 tonnes and earnings expected to tick-up at $9.55 million.

The major trading nations for Panama’s export of aluminium scrap are Brazil, China, Ecuador, India, Malaysia, Mexico, Netherlands, South Korea, etc.

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