The Philippines' economy is considered as one of the most dynamic economies in East Asia and the Pacific. Amidst lingering global and local uncertainties, the Philippine economy is poised to grow at 6.4% in 2019 and 6.5% in 2020 and 2021.
The Southeast Asian nation’s aluminium foil importation during 2017-19 reveals quite steady and enterprising market, as the import volume stood at 51,639 tonnes and foreign revenue expenditure stood at $198.16 million. The import for 2020 is expected to remain at 18,829 million and expenditure to stand at $74.61 million. However, when the 2020 import volume and expenditure gets added to the previous three years it demonstrates 70,468 tonnes and $272.77 million respectively.
Philippines import of aluminium foil in 2017 remained to only 12,914 tonnes and expenditures occurred for it was $46.01, whereas in 2018 the aluminium foil import soared to 19,870 tonnes, a growth by 53.86% and foreign revenue expenditure rose to $77.15 million.
In 2019, the country’s aluminium foil import saw de-growth by 5.10%, as the import volume recorded was 18,855 tonnes and expenditures fell to $75.00 million.
The projected for 2020 has been marked with minimal downfall by 0.13%, as the import volume to stand at 18,829 tonnes and expenditures to be at $74.61 million.
The major trading nations for Philippines importation of aluminium foil are Austria, China, France, Germany, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, Taiwan, USA, etc.
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