Luxembourg’s export of Aluminium Foil during 2018-20 remains strong with marginal fall in 2019
Luxembourg, the wealthiest country in the European Union with high per capita and its citizens enjoy a high standard of living. According to Trading Economics global macro models and analysts’ expectations, Luxembourg’s GDP is expected to reach $67 billion by the end of 2020. However, in the long-term, the Luxembourg GDP is projected to trend around $68.50 billion in 2021 and $71.50 billion in 2022, according to econometric models.
The small European nation’s export of aluminium foil during 2018-19 was recorded at 60,505 tonnes and the earnings generated accounted to $165.38 million. The aluminium foil export for 2020 has been expected to reach 43,144 tonnes and the earnings to stand at $143.65 million. When the export and earnings for 2020 gets counted with the previous two years, it signifies 103,649 tonnes and $309.03 million respectively.
Luxembourg’s export of aluminium foil in 2018 stood at 30,564 tonnes and the earnings remained at $71.72 million, whereas, in 2019 the export saw a marginal drop by 2.03%, as the export fell to 29,941 tonnes, while earnings rose to $93.66 million.
The export of aluminium foil in 2020 has been evaluated with an upswing by 44.09%, as the export is expected to surge at 43,144 tonnes and earnings to reach $143.65 million.
The major trading destinations for Luxembourg’s export of aluminium foil are Austria, Andorra, Belgium, Canada, Czech Rep., Denmark, Finland, France, Germany, Hungary, India, Netherlands, Italy, Mexico, Poland, Russia, Saudi Arabia, Spain, Sweden, UK, Turkey, etc.