Taiwan’s Aluminium scrap export during 2018-20 unfolds potential growth

The economy of Taiwan is a developed capitalist economy that ranks as the seventh-largest in Asia and 22nd-largest in the world by purchasing power parity (PPP). It is included in the advanced economies group by the International Monetary Fund and gauged in the high-income economies group by the World Bank.

The major industrial sectors that contribute heavily to the economy of Taiwan are electronics, communications and information technology products, petroleum refining, chemicals, textiles, metals, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals.

Taiwan’s aluminium scrap export during 2018-19 remained quite progressive, as the export volume stood at 108,834 tonnes. The projected scrap export for 2020 has been determined to be at 78,094 tonnes, however, when the current year’s analysed export volume gets assorted with the previous two years it displays 186,928 tonnes.

In 2018, Taiwan’s aluminium export was recorded at 47,067 tonnes and revenue earnings stood at $13.53 million, whereas in 2019 the export saw growth by 31.23%, as the volume rose to 61,767 tonnes.

The estimated export volume for 2020 has also been analysed with growth by 26.43%, as the export volume to soar at 78,094 tonnes and earnings to reach $35.49 million.

Taiwan’s major trading nations for exportation of aluminium scrap are Belgium, Honk Kong, India, Italy, Indonesia, Japan, Malaysia, Mexico, Singapore, Saudi Arabia, Thailand, USA, Vietnam, etc.