The sharp decline of Colombia’s importation of Aluminium wires during 2017-20

The economy of Colombia is the fourth largest in Latin America as measured by gross domestic product. Colombia has experienced a historic economic boom over the last decade.

The South American nation’s import of aluminium wires during 2017-19 has been recorded with 15,500 tonnes and the expenditure stood at $42.52 million. The projected import volume for 2020 has been analysed at 4127 tonnes and the expenditure to remain at $18.16 million. However, when the previous three years import volume and expenditure gets added to the analysed figures of 2020 it stands at 19,627 tonnes and $60.68 million respectively.

Columbia’s import of aluminium wires in 2017 has been recorded with the volume of 9340 tonnes and the expenditure stood at $60.68 million, whereas in 2018 there has been a de-growth in volume by 6358 tonnes, as the import volume stood at 2982 tonnes and the expenditure also dropped at $8.19 million.

In 2019, though the import saw a marginal growth 196 tonnes Y-o-Y basis, as the import volume stood at 3178 tonnes and the expenditure remained at $12.74 million, while the analysed import volume for 2020 also reflected an excess volume of 949 tonnes as the import is expected to reach at 4127 tonnes, keeping the expenditure at $18.16 million.

The major exporting nation for Columbia’s aluminium wires import is Bahrain, Brazil, Canada, Mexico, Ecuador, Oman, Netherlands, Spain, Venezuela, etc.