The COVID-19 pandemic has de-stabilised most of the economies of the world, except for South Korea’s. As per the latest economic projections by the OECD, South Korea is looking at a mere 1% GDP contraction for 2020, the second-best performer among major economies behind only China. In contrast, the euro area is expected to shrink by around 8%, and the United States could see full-year contraction on the order of almost 4% of GDP.
The East Asian nation’s export of aluminium tubes and pipes fittings during 2018-19 remains at 3278 tonnes and the revenue earnings stood at $24.72 million. The export for 2020 has been marked at 1440 tonnes and earnings to be standing at $15.16 million; when the export volume and earnings get assorted with the existing two years, it resembles 4718 tonnes and $39.88 million respectively.
South Korea’s export of aluminium tubes and pipes in 2018 was recorded at 2108 tonnes and earnings accounted remained at $11.86 million, whereas in 2019, the export saw downfall by 44.49%, as the import dropped 1170 tonnes, while revenue generation rose to $12.86 million.
The export for 2020 has also been analysed with growth by 23.07%, as the export is expected to reach at 1440 tonnes and earnings to stand at $15.16 million.
South Korea’s major trading destinations for exportation of Aluminium tubes and pipes fittings are Brazil, Canada, Czech Rep., China, Indonesia, Italy, Japan, Mexico, Philippines, Portugal, Russia, etc.
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