Portugal’s import of aluminium stranded wire during 2018-20 reflects marginal movements

On 15^th April 2021, the finance minister of Portugal said that the government of Portugal has slashed its 2021 economic growth forecast to 4% from 5.4% after a severe worsening of the coronavirus pandemic at the beginning of 2021 forced a nationwide lockdown lasting over two months.

The southern European nation on the Iberian Peninsula has recorded importation of 1487 tonnes of aluminium stranded wires during 2018-19 and the expenditure that occurred for the import accounted for $4.74 million. The import for 2020 stood at 740 tonnes and the expenditure remained at $2.30 million. However, when the import volume of 2020 gets assorted with the preceding two years, it signifies 2227 tonnes and $7.04 million respectively.

Portugal’s import of aluminium stranded wire in 2018 was registered at 784 tonnes and the expenditure remained at $2.64 million, whereas, in 2019, the import saw a drop by 10.33%, as the import volume fell to 703 tonnes and the expenditure plunged to $2.10 million.

The import for 2020 was filed at 740 tonnes, a growth of 5.26% and the expenditure also rose to $2.30 million.

Portugal’s major import destinations for the importation of aluminium stranded wires are Austria, China, Romania, Spain, Tunisia, etc.