Vietnam’s import of Aluminium scrap during 2018-20 reflects potential growth

In the 21st century, Vietnam is in a period of being integrated into the global economy. Almost all Vietnamese enterprises are small and medium enterprises (SMEs). The government has targeted a 2 to 2.5% economic growth for 2020 with an aim of 6.5% in 2021. The latest figures from the Ministry of Planning and Investment (MPI) give an overview of Vietnam's performance in the first nine months of 2020.

The Southeast Asian nation’s import of aluminium scrap during 2018-19 was recorded at 63,249 tonnes and the expenditure occurred during the import remained at $33.28 million. The import for 2020 has been expected to reach at 63,829 tonnes and the expenditure to stand at $34.54 million; when the import volume and expenditure of the preceding two years gets assorted, it reflects 127,078 tonnes and $67.82 million respectively.

Vietnam’s import of aluminium scrap in 2018 stood at 21,083 tonnes and expenditures remained at $9.37 million, whereas in 2019 the import saw growth by 100%, as the import volume recorded at 42,166 tonnes and expenditure climbed to $23.91 million.

The import for 2020 has been analysed with further growth by 51.37%, as the import volume rose to 63,829 tonnes and expenditure to reach $34.54 million.

Vietnam’s major trading destinations for the importation of aluminium scrap are Australia, Canada, Costa Rica, Ecuador, Finland, Finland, France, Germany, Hong Kong, Japan, etc.