Paraguay’s aluminium scrap export during 2019-21 blooms; 6% downfall estimated for 2022

The landlocked country between Argentina, Brazil and Bolivia, Paraguay is considered as a rich country with uneven distribution of wealth. The economy of the nation decelerated in 2017 and 2018, diminished in 2019 and 2020, and recommenced growth in 2021. However, in the long-term, the country’s GDP is forecasted to trend around $38.20 billion in 2022, according to World Bank.

The home to large swaths of swampland, Paraguay exported 47,736 tonnes of aluminium scrap during 2019-21, attracting foreign revenue generation of around $67.06 million from the export.

Paraguay’s export of aluminium scrap in 2019 was registered at 13,712 tonnes, incurring revenue inflow of $16.50 million, whereas, in 2020, the export exhibited growth by 6.98%, as the export volume rose to 14,670 tonnes and the earnings accounted was $17.33 million.

In 2021, the South American nation illustrated aluminium scrap export growth by 31.92%, as the export volume surged to 19,354 tonnes and the earnings shot up to $33.23 million.

The export of scrap for 2022 has been analysed with a downfall of 6.15%, as the export volume is anticipated to remain at 18,162 tonnes, while earnings also dip at $31.15 million.

The major trading destinations for Paraguay’s export of aluminium scrap are Brazil, Greece, Germany, South Korea, Spain, USA, etc.