South Korea’s export of aluminium bar rods and profiles during 2019-21 reveals excellent growth

South Korea stands with an economic freedom score of 74.0, making the economy the 24th freest in the 2021 Index. However, its overall score remains unaltered, with an improvement in the government spending score offset by declines in investment and financial freedom. The economy pursues to maintain its ranking among the freest countries. A well-educated labour force and a high capacity for innovation have supported companies to capitalize on the country’s participation in the global trading system.

The East Asian nation on the southern half of the Korean Peninsula, South Korea exported 49,862 tonnes of aluminium bar rods and profiles during 2019-20 incurring revenue development of $191.05 million from the export.

In 2019, the export of aluminium bar rods and profiles from South Korea was recorded at 23,537 tonnes, accounting for revenue earnings of $88.28 million, whereas, in 2020, the export surged by 11.84%, as the export volume rose to 26,325 tonnes and the earnings also jumped to $102.77 million.

The export for 2021is analysed to counter another further growth by 48.93%, as the export volume is anticipated to reach 39,206 tonnes and the earnings to escalate at $146.67 million.

The major trading destinations for South Korea’s export of aluminium bar rods and profiles are Argentina, Australia, Brazil, Czech Rep., Chile, China, Ecuador, France, Germany, Indonesia, etc.