Sri Lanka’s import of Aluminium Foil during 2019-20 reveals significant growth; 2021 import hints for further positive development
The unrivalled disruption of COVID-19 has caused geopolitical unrest and as the global order is modified, small emerging market economies like Sri Lanka are exposed to the fallout. Sri Lanka bestrides vital shipping routes and is at the centre of a diplomatic dispute between China and the United States, who called on Sri Lanka to make ‘difficult but necessary choices’ over its growing economic and political ties to China.
The island nation of South Asia has recorded import of aluminium foil of 9394 tonnes during 2019-20 and the revenue expended for the import stood at $20.98 million.
Sri Lanka’s import of aluminium foil in 2019 stood at 3664 tonnes and the expenditure accounted for the import remained at $8.80 million, whereas, in 2019, the import revealed significant growth by 54.99%, as the import volume rose to 5679 tonnes and the expenditure also climbed to $12.18 million.
The import for 2021 has been analysed with further growth by 22.32%, as the import volume is forecasted to stand at 6947 tonnes, while the expenditure to remain at $14.79 million.
The major trading destinations for Sri Lanka’s import of aluminium foil are China, India, Singapore, UAE, etc.
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