Slovakia’s import of aluminium wire during 2018-20 unveils sustained growth

In March 2021, Peter Kazimir, Governor, National Bank of Slovakia (NBS) stated that the economy could return to its pre-pandemic level already in 2021, supported mainly by solid foreign demand. The central bank has lowered its forecast for this year’s gross domestic product (GDP) growth to 5.0%, but that would still outpace most of Slovakia’s peers in the European Union, including the neighbouring Czech Republic where a 2.2% expansion is seen this year.

The landlocked central European country, Slovakia imported 14,635 tonnes of aluminium wires during 2018-19 and the revenue expenditure that occurred was $32.56 million. The import for 2020 was noted at 9797 tonnes and the expenditure remained at $16.55 million. However, when the aluminium wire import volume and expenditure of 2020 get assorted with the existing two years, it reveals 24,432 and $49.11 million respectively.

In 2018, Slovakia’s import of aluminium wire was recorded at 6485 tonnes and the expenditure accounted for the import was $15.75 million, whereas, in 2019, the import saw growth by 25.67%, as the import volume soared to 8150 tonnes and the expenditure rose to $16.81 million.

The import for 2020 also unveiled growth by 20.20%, as the import volume grew to 9797 tonnes, while the expenditure dipped to $16.55 million.

The major trading destinations for Slovakia’s import of aluminium wire are Czech Rep., Austria, China, France, Germany, Hungary, Italy, Netherlands, Poland, Russia, etc.