Uruguay’s import of aluminium bar rods and profiles during 2019-20 reveals marginal growth; 10% growth predicted for 2021

The economy of Uruguay economy is heavily dependent on its neighbours, Brazil and Argentina. In 2020, the country’s GDP plunged by an estimated 5.7%, primarily due to the impacts of the COVID-19 pandemic not only in the country but also in its neighbours. However, it should be considered that the pandemic had a relatively minor impact on the Uruguayan economy when compared to other countries in the region. The economy is still expected to recover in the coming years, with the IMF's April 2021 estimates predicting growth of 3% for 2021 and 3.1% for 2022, subject to post-pandemic global economic recovery.

The South American nation, Uruguay imported 6651 tonnes of aluminium bar rods and profiles during 2019-20 and the foreign revenue expended for the import stood at $21.75 million.

Uruguay’s import of aluminium bar rods and profiles in 2018 remained at 3230 tonnes and the expenditure occurred was $11.01 million, whereas, in 2020, the import saw marginal growth by 2.81%, as the import volume rose to 332, while the expenditure dipped to $10.74 million.

The import for 2021is analysed with growth by 9.99%, as the import volume is expected to rise and remain at 3653, due to demand upswing in the domestic market and the expenditure to stand at $12.20 million.

The major trading destinations for Uruguay’s import of aluminium bar rods and profiles are Argentina, Brazil, China, Germany, Italy, Paraguay, Spain, etc.