Serbia’s import of Aluminium Foil reflects downturn during 2018-19, marginal rise in 2020

The economy of Serbia stands as a mixed economic system in which the presence of the state in the economy is considerable, but the freedom for the private sector is limited. The World Bank labels Serbia as a middle-income country and its economy is transitioning from being dominated by the state sector to a market-driven model. The strongest sectors of Serbia's economy are energy, automotive industry, machinery, mining, and agriculture. “Serbia will be the only economy in Central and Eastern Europe (CEE) that will fully recover from the coronavirus crisis next year”, as per Erste research report.

The landlocked European nation’s import of aluminium foil during 2018-19 was recorded at 25,557 and the revenue expended for the import stood at $121.46 million. The import for 2020 is marked with 11,739 tonnes and the expenditure to stand at $55.63 million. However, when the import for 2020 gets summed with the previous two years, it denotes 37,296 tonnes and $177.09 million respectively.

Serbia’s import of aluminium foil in 2018 stood at 14,473 tonnes and the expenditure accounted for the import remained at $62.63 million, whereas, in 2019 the import saw de-growth by 23.42%, as the import volume dropped to 11,084 tonnes and the expenditures also fell to $58.83 million.

The import for 2020 has been noted with a marginal growth of 5.90%, as the import volume to rise and remain at 11,739 tonnes, while the expenditure further dips to $55.63 million.

The major trading nations for Serbia’s import of aluminium foil are Austria, China, Czech Rep., France, Greece, Hungary, Italy, Netherlands, Poland, Russia, Turkey, etc.