Spain’s import of aluminium stranded wires during 2018-20 manifests marginal to steady growth; 11% growth estimated for 2021

Spain's advancement with the vaccination process and uplifting restrictions progressively will speed up the economic activity strongly. According to Organisation for Economic Co-operation and Development (OECD) report, the Spanish GDP is projected to rise by 5.9% in 2021 and 6.3% in 2022, supported by pent-up demand, the national recovery plan and a gradual pick-up of tourism, while the reduced uncertainty will lead to a sharp decline in precautionary saving and support private consumption. Investment is expected to pick up significantly from the second half of 2021 as expectations improve and the Next Generation EU funds provide additional support.

The nation on Europe’s Iberian Peninsula, Spain imported 8062 tonnes of aluminium stranded wire during 2018-20 and the expenditure occurred for the import accounted for $13.57 million.

Spanish import of aluminium stranded wire in 2018 was registered at 2447 tonnes and the expenditure counted to $4.67 million, whereas, in 2019, the import saw a marginal growth by 1.71%, as the import volume moved to 2489 tonnes, while the expenditure fell to $4.54 million.

The import of aluminium stranded wire in 2020 was recorded with 25.59% growth, as the import volume rose to 3126 tonnes, while the expenditure further dipped to $4.36 million.

The Spanish import of aluminium stranded wire in 2021 is analysed with 11% growth, as the import volume is expected to remain at 3470 tonnes and the expenditure to stand at $4.47 million.

Spain’s major trading destination for the importation of aluminium stranded wire is Austria, China, France, Germany, India, Italy, Poland, Turkey, etc.