Philippines’s imports of aluminium scrap likely to fall in 2017
The Philippines is the 39th largest export economy in the world. The country exported US$56.3 billion worth of goods in 2016. The top export destination of the Philippines is China. The Philippines exported 12,907 tonnes of aluminium scrap in August and 47,786 tonnes during the first eight months of 2017.
The other top importers include Japan, Malaysia, South Korea, and many more. The country’s exports of aluminium scrap decreased during the last two years and are expected to drop further this year.
According to the recent estimates, in the year 2015, the Philippines imported 53522 tonnes of aluminium scrap. The value of import was USD 66.5 million for the same amount. In the year 2016, the amount stood at 32796 tonnes and the value of import stood at USD 39.7 million.
In the year 2017, the Philippines is estimated to import 24245 tonnes of aluminium scrap and the value of import is estimated to stand at USD 94.5 million.
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