The Philippines, an archipelagic country in Southeast Asia situated in the western Pacific Ocean, it consists of about 7,641 islands. A newly industrialized country, the Philippine economy has been transitioning from one based upon agriculture to an economy with more emphasis upon services and manufacturing.
The aluminium plates, sheets & strips import market of the Philippines has shown record growth during 2017-19, as the total import volume stood at 56,333 tonnes, while the foreign revenue expended was $213.80 million. The import projection for 2020 has been analyzed much more enterprising than the previous three years, as the volume of import might reach 22,917 tonnes and the cost might increase to $106.22 million.
{alcircleadd}
When the 2020 import volume and cost is added to the past three years, the volume stands at 79,250 tonnes and expenditure at $320.02 million respectively.
In 2017 the aluminium plates, sheets & strips import stood at 15,079 tonnes, whereas in 2018 it raised to 20,370 tonnes, a growth by 35.08%, with Y-o-Y excess volume of 5,291 tonnes.
The island nation’s import in 2019 also showed growth by 2.52%, as the total import was recorded at 20,884 tonnes and the cost reflected was $87.87 million.
The estimation for 2020 has also been analysed with growth by 9.73%, as the total import volume might stretch to 22,917 tonnes and the revenue expenditure can rise to $106.22 million.
When the import volume of the Philippines compared between 2017 & 2020, there is a rise of 51.97% in volume and 120.78% in revenue expenditure.
Philippines has been trading the importation of Aluminium metal, sheets and strips with countries like Angola, Australia, India, UK, USA, China, Congo, France, Germany, Hong Kong, Indonesia, Japan, Italy, Malaysia, Niger, etc.
Responses
