Uruguay’s export of Aluminium scrap during 2018-20 reveals robust growth

The economy of Uruguay is crucially dependent on its neighbours, Brazil and Argentina. In 2020, GDP decreased by an estimated 4.5%, mainly due to the impacts of the COVID-19 pandemic not only in the country but also in its neighbours. However, the pandemic had relatively little impact on the Uruguayan economy when compared to other countries in the region. The economy is forecasted to rebound in the coming years, with the IMF's October 2020 estimates predicting growth of 4.3% for 2021 and 2.5% for 2022, subject to post-pandemic global economic recovery.

The southern American nation’s export of aluminium scrap during 2018-19 was recorded at 5565 tonnes and the revenue generated for the export stood at $8.50 million. The export for 2020 was highlighted at 4784 tonnes and the earnings accounted for $6.30 million. When the export volume and earnings of 2020 get added with the existing two years, it signifies 10,349 tonnes and $14.80 million respectively.

Uruguay’s export of aluminium scrap in 2018 remained at 1512 tonnes only and the earnings stood at $2.21 million, whereas, in 2019, the export revealed robust growth by 168.05%, as the export volume rose to 4053 tonnes and earnings also inclined to $6.29 million.

The export for 2020 also reflected growth by 18.03%, as the export volume grew to 4784 tonnes, while the earnings stood at $6.30 million.

Uruguay’s major trading destinations for the export of aluminium scrap are Netherlands, Brazil, Slovenia, Spain, USA, etc.