Turkey’s export of aluminium stranded wires during 2019-20 exhibits upsurge; 1% dip forecast for 2021

According to Reuters’ quarterly poll, Turkey’s economy will augment at the rate of 5.5% annually in 2020, which is more than previously thought and close to a government forecast, although it will be a sturdy battle countering double-digit inflation in coming years.

The nation spanning Western Asia and Southeast Europe, Turkey exported 52,966 tonnes of aluminium stranded wires during 2019-20 and the revenue earned from the export of the wires accounted for $121.45 million.

Turkey exported 19,856 tonnes of aluminium wires in 2018 and made inflowing revenue of $50.21 million, whereas, in 2020, the export exhibited 66.75% growth, as the export volume up-surged to 33,110 tonnes and the earnings also climbed to $71.24 million.

As aluminium yields a better conductivity to weight ratio than copper, so aluminium stranded wires are used for wiring power grids, including overhead power transmission lines and local power distribution lines, as well as for power wiring of some aircraft.

The export for 2021 is analysed with a negligible dip of 0.99%, as the export volume is expected to fall at 32,782 tonnes, while the earnings are estimated to grow and stand at $74 million, due to the hike in the price of aluminium globally.

Turkey’s major trading destinations for the export of aluminium stranded wires are Bosnia Herzegovina, Argentina, Brazil, Bulgaria, Canada, Chile, Colombia, Croatia, Czech Rep., Denmark, Finland, Ghana, Georgia, Italy, Lebanon, Norway, etc.