Lithuania’s export of aluminium scraps during 2018-20 displays rapid to marginal growth; 10% downswing predicted for 2021

The GDP of Lithuania grew 1.2% Y-o-Y in Q1 2021, contrasting the 1.2% drop tallied in Q4 2020 and the reading was revised up from the preliminary estimate of a 1.0% expansion, according to a second estimate released on 1^st June by FocusEconomics. The country holds some aluminium downstream and end-user facilities, which create a good amount of aluminium scrap and by way of exporting, it contributes to the economy.

The nation in the Baltic region of Europe, Lithuania has booked 55,821 tonnes of aluminium scrap exportation during 2018-20 and the revenue generated from the export accounts for $55.90 million.

Lithuania’s export of aluminium scrap in 2018 was registered at 11,904 tonnes and the earnings remained at $13.64 million, whereas, in 2019, the export displayed rapid growth by 81.80%, as the export volume surged to 21,642 tonnes and the earnings also soared to $21.95 million.

The export in 2020 was recorded with a marginal growth of 2.92%, as the export volume rose to 22,275 tonnes, while the earnings reveal a downfall at $20.31 million.

Lithuania’s export of aluminium scrap in 2021 is predicted with a downswing of 9.89%, as the export volume is estimated to dip at 20,070 tonnes and the earnings to stand at $18.30 million.

The major trading nations for Lithuania’s export of aluminium scrap are Czech Rep., Austria, China, Finland, Germany, Hungary, India, Netherlands, Latvia, Pakistan, Poland, Romania, Thailand, etc.