Switzerland’s export of Aluminium Tubes and Pipes during 2018-20 demonstrates a significant downturn; earnings remain high

Switzerland is facing an unusual economic downturn. Globally most of the governments countered COVID-19 pandemic by imposing major restrictions on their societies and economies, prompting a significant plunge in global trade and the demand for Swiss exports. The Swiss government also restricted much of public life in the country, with a considerable impact on the domestic economy. The Swiss State Secretariat for Economic Affairs (SECO) analysed that manufacturing output will fall by around 25% of total economic added value compared to 2019.

The Central European nation’s export of aluminium tubes and pipes during 2018-19 was recorded at 7463 tonnes and the earnings remained at $27.88 million. The export for 2020 will remain at 2770 tonnes and the earnings to stand at $15.31 million. However, when the export volume and earnings of 2020 get summed up with the preceding two years, it resembles 10,233 tonnes and $43.19 million respectively.

Switzerland’s export of aluminium tubes and pipes in 2018 stood at 4066 tonnes and the earnings accounted for the export remained at $12.80 million, whereas, in 2019 the export saw downfall by 16.45%, as the export dropped to 3397 tonnes, while the earnings demonstrated growth and stood at $15.08 million.

The export for 2020 has been recorded again with de-growth by 18.45%, as the export volume dip to 2770 tonnes, though earnings grew to $15.31 million.

The major trading destinations for Switzerland’s export of aluminium tubes and pipes are Austria, Bulgaria, China, Czech Rep., France, Germany, Hungary, Mexico, Poland, Russia, USA, etc.