The continuous downfall of Norway’s Aluminium export during 2017-20

Norway is ranked as the fourth largest aluminium exporter in the world and has occupied a 5.8% share of a worldwide export market that is worth $41.7 billion annually.

Norway’s total aluminium export from 2017-19 was recorded at 4.55 million tonnes. The export forecast for 2020 has been at 1.3 million tonnes, when adding from 2017-19 it stands at 5.85 million tonnes cumulatively.

In 2017 the aluminium export was recorded at 1.61 million tonnes, whereas in 2018 a fall by 4.34% export has been noticed and the total export volume stood at 1.54 million tonnes.

The aluminium export volume in 2019 shows a negative trend, as there is a downfall of 9.09%. The total export volume stood at 1.40 million tonnes and the revenue earned was recorded at $2.55 billion.

The projection for Norway’s aluminium export in 2020 reflects a 7.4% de-growth, as the total export volume stands at 1.30 million tonnes and the foreign revenue generation forecast remains at $2.50 billion.

Norsk Hydro, one of the largest global aluminium companies has been planning for the long term financial strategies to raise its aluminium demand.

Norway has been exporting its aluminium to various countries like Austria, Czech Republic, Denmark, Finland, France, Japan, Luxembourg, Netherlands, Poland, Slovakia, Slovenia, Spain, etc.