Qatar’s import of aluminium foil during 2018-20 stages enterprising growth

As a leading exporter of liquefied natural gas to Australia, Qatar lost its status in 2020, but it holds the position of the third-largest gas reserves in the world. The Emirate’s economy is thus heavily focused on the gas industry, which represents two-thirds of its GDP and almost 80% of export earnings. Since 2014, like other Gulf nations, Qatar has been hit by the global shrink in oil prices. However, the economic results have been better than that of its neighbours, due to successful economic diversification, namely via the development of large-scale projects.

The peninsular Arab country has recorded 4004 tonnes of aluminium foil importation during 2018-19 and the revenue expended for the import stood at $12.09 million. The import for 2020 is registered at 3680 tonnes and the expenditure accounted for the import stood at $8.24 million. When the import volume and expenditure of 2020 gets assorted with the existing two years, it denotes 7684 tonnes and $20.33 million respectively.

Qatar’s import of aluminium foil in documented in 2018 was 533 tonnes only and the revenue expenditure remained at $2.75 million, whereas, in 2019, the import volume skyrocketed to 3471 tonnes, a rise by 551.21% and the expenditure also rose to $9.34 million.

The import for 2020 staged with growth by 6.02%, as the import volume grew to 3680 tonnes, while the expenditure dropped to $8.24 million.

The major trading destinations for Qatar’s importation of aluminium foil are Bangladesh, Greece, Kuwait, Lebanon, Netherlands, Oman, Switzerland, Thailand, Turkey, UAE, USA, etc.