Slovakia’s import of alumina during 2018-21 exemplifies mercurial movement

Slovakia ranks as the fastest-growing developed economy in the world. The country has a mixed economic system in which there is a variety of private freedom, integrated with centralized economic planning and government regulation and it is a member of the European Union (EU).

Slovalco is the only primary aluminium producer in Slovakia. The majority of which is owned by global aluminium giant Norsk Hydro, producing 160,000 tonnes of aluminium annually in 226 furnaces, consuming 8% of Slovakia’s total power consumption.

The landlocked nation in Central Europe, Slovakia imported 822,204 tonnes of alumina during 2018-20 and the amount expended accounted for $292.95 million on the raw material for the production of aluminium and used for other applications.

In 2018, Slovakia’s import of alumina was recorded at 195,934 tonnes and the expenditure occurred for the imported was counted $101.24 million, whereas, in 2019, the import exemplified a growth by 71.82%, as the import volume surged to 336,655 tonnes and expenditure aroused to $114.01 million.

Slovakia’s import of alumina in 2020 was registered at 289,615 tonnes, which signifies a downfall of 13.97% and the expenditure also dropped to $77.70%.

The import of alumina in 2021 is analysed with an up-rise of 4.91%, as the import volume is predicted to grow and remain at 303,842 tonnes, while the expenditure to stand at $70.30 million.

The major trading destinations for Slovakia’s import of alumina are Bosnia Herzegovina, Belgium, Czech Rep., Germany, Hungary, Netherlands, Poland, etc.