The uneven movement of Finland’s Aluminium ingot importation market during 2017-20

Finland is a Northern European nation bordering Sweden, Norway and Russia. Its capital, Helsinki, occupies a peninsula and surrounding islands in the Baltic Sea. The economy of Finland is a highly industrialised, mixed economy with a per capita output similar to that of other western European economies such as France, Germany and the United Kingdom. The largest sector of Finland's economy is services industry, followed by manufacturing and refining.

Concerning foreign trade, the key economic sector is manufacturing. The largest industries are electronics, machinery, vehicles and other engineered metal products, forest industry, and chemicals.

Finland’s aluminium ingot import market has been recorded strong though with uneven movement. The total import during 2017-19 has been recorded at 122,115 tonnes and the total revenue expended stood at $222.31 million. The estimated import volume for 2020 has been analysed at 38,486 tonnes with expenditure to be standing at $61.89 million. Then when import volume and expenditure of 2020 has been added with the previous three years it reflects 160,601 tonnes and $284.20 million respectively.

The aluminium ingot import of Finland in 2017 has been recorded at 37,146 tonnes and the expenditure has been noted $65.97 million, whereas in 2018 there was a rise by 28.39%, as the total volume stood at 47,693 tonnes and the foreign revenue expenditure remained at $90.94 million.

In 2019 there was fall by 27.94% in the aluminium ingot as the total import stood at 37,276 tonnes and the revenue expenditure was recorded at $65.40 million. The projection of import for 2020 has shown growth by 3.24% as the total import expected to reach 38,486 tonnes, whereas the revenue expenditure seems to be dropping by 5.36%.

The major countries from where Finland’s aluminium ingot gets imported are Austria, Bahrain, Germany, Luxembourg, Netherlands, Norway, Sweden, Poland, UAE, etc.