Panama’s import of Aluminium Foil during 2018-20 reveals steady growth

Panama's dollarized economy rests primarily on a well-developed services sector that accounts for three-quarters of GDP. Strong economic performance has not translated into broadly shared prosperity as Panama has the second-worst income distribution in Latin America. In 2020, Panama's economy should slow further amid lower mining sector growth, fewer expected infrastructure projects, and subdued activity in the Canal due to weaker global trade growth.

The country on the isthmus linking Central and South America has recorded import of aluminium foil of 1527 tonnes during 2018-19 and expenditure occurred for the import stood at $7.36 million. The import for 2020 has been evaluated at 1232 tonnes and expenditure to stand at $7.60 million; when the import volume and expenditure of the existing two years gets added it resembles 2759 tonnes and $14.96 million respectively.

Panama’s import of aluminium foil in 2018 stood at 676 tonnes and expenditure remained at $2.58 million, whereas in 2019 the import demonstrated growth by 25.88%, as the import volume recorded was 851 tonnes and expenditure also rose to $4.78 million.

The import for 2020 has been analysed to reach at 1232 tonnes, with growth by 44.77% Y-o-Y basis, and expenditure to outreach at $7.60 million.

Panama’s import of aluminium foil from its major trading destinations is Chile, Columbia, El Salvador, Italy, Peru, Taiwan, Turkey, etc.