Ukraine’s import of aluminium tubes and pipes during 2018-20 illustrates stable growth; 4% rise predicted for 2021
The latest Regional Economic Prospects report published by the European Bank for Reconstruction and Development (EBRD) on 29th June 2021 stated that Ukraine’s economy is set to return to growth in 2021. The Bank forecasts the country’s gross domestic product (GDP) to increase 3.5% on the year in both 2021 and 2022. The major risks to its forecasts are the country’s slow movement on reform and vaccination. A decline in foreign demand, combined with the impact of repeated lockdowns on domestic demand, caused GDP to decline by 4% in 2020.
The eastern European nation, Ukraine imported 2347 tonnes of aluminium tubes and pipes during 2018-20 and the expenditure occurred for the import was $10.14 million.
Ukraine’s import of aluminium tubes and pipes in 2018 was recorded at 458 tonnes and the expenditure remained was $2.23 million, whereas, in 2019, the import illustrated growth by 79.25%, as the import volume rose to 821 tonnes and expenditure also grew to $3.87 million.
In 2020, the import was registered at 1068 tonnes, a rise of 30.08% and the expenditure accounted for $4.04.
Ukraine’s import in 2021 is analysed with further marginal growth of 3.83%, as the import volume is expected to remain at 1109 tonnes and the expenditure to stand at $3.84 million.
The major trading destinations for Ukraine’s import of aluminium tubes and pipes are Bulgaria, China, Czech Rep., Italy, Poland, Netherlands, Russia, Turkey, etc.
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