Kuwait¡¯s import of Aluminium Bar Rods and Profiles slows down: The Projected decline in 2020 is 3.53%

The gradual rise in price for Aluminium Bar Rods and Profiles had shown drowsiness in Kuwait’s import. Kuwait, a small country in the Arab world, but considered to have one of the strongest currencies globally.

Kuwait has been importing Aluminium Bar Rods and Profiles from multi countries as and when the prices are offered at the best. The countries include Belgium, China, Egypt, France, Germany, Greece, India, Italy, Lebanon, Spain, Turkey, Netherlands, Saudi Arabia, UAE and UK.

During the year 2017-2019, the total import of Kuwait’s Aluminium Bar Rods was recorded at 47,104 tonnes, amounted to $84.27 million. The estimated figure for2020 has been 14,220 tonnes, the projected amount of $24.06 million. The price clearly shows the inclined way. When added the projected 2020 volume with 2017-19 volume, it makes 61,324 tonnes and amounted to $108.33 million.

In 2017 Kuwait’s import of Aluminium Bar Rods and Profiles stood at 14,220 tonnes, which amounted to $38.69 million.

Again in 2018, the sharp fall in the price of Aluminium Bar Rods and Profiles made the import to rise at 18272 tonnes, a rise of 28.75%, with an increase in the volume of 4052 tonnes.  The import volume amount was recorded at $23.50 million, with less use of foreign use by $15.19 million.

In 2019 the import volume stood at 14741 tonnes, a straight fall of 19.32% from the previous year, volume de-growth of 3531 tonnes. The amount paid recorded at $22.08 million.

The year 2020 also estimated a 3.53% de-growth from the previous year.

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