Latvia’s import of Aluminium Bar Rods and Profiles during 2018-20 reveals an uneven movement

Latvia’s GDP is set to shrink by 4.3% in 2020, before growing by 2.4% in 2021 and 4.0% in 2022. Activity rose rapidly in the third quarter of 2020 after containment measures had been withdrawn. However, the recovery has been disrupted by the recent tightening of containment measures in response to a renewed virus outbreak and is projected to resume at a slow rate when the restraints are relaxed.

The European nation on the Baltic has recorded 8543 tonnes of Aluminium Bar Rods and Profiles import during 2018-19, with the expenditure of $35.64 million. The import for 2020 is expected to reach at 4115 and expenditure to stand at $16.22 million. When the import volume and expenditure of 2020 gets summed with the preceding two years, it signifies 12,658 tonnes and $51.86 million respectively.

Latvia’s import of aluminium bar rods and profiles in 2018 stood at 3660 tonnes and expenditure remained at $14.97 million, whereas, in 2019 the import revealed growth by 33.41%, as the import rose to 4883 tonnes and expenditure grew to $20.67 million.

The import for 2020 has been marked with de-growth by 15.72%, as the import volume is expected to drop and remain at 4115 tonnes and expenditures to stand at $16.22 million.

Latvia’s major trading destinations for the importation of aluminium bar rods and profiles are Belarus, Belgium, China, Czech Rep., Denmark, Estonia, Finland, Germany, Hungary, Italy, Netherlands, Norway, Poland, etc.