Sep 17 (LTIT) –The industrial sector in Chile contributed 30% of GDP in 2019 and employed 22.8% of the working population, the same as in 2018, according to the World Bank. However, the sector has increased by 4.3 in 2019, showing signs of great productivity. According to the updated IMF forecasts from 14th April 2020, due to the outbreak of the COVID-19, GDP growth is expected to fall to -4.5% in 2020 and pick up to 5.3% in 2021, subject to the post-pandemic global economic recovery.

The Latin American nation’s importation of aluminium bar rods and profiles during 2017-19, reflects a sudden growth with a gradual fall, as the import volume recorded during the phase remains at 39,677 tonnes and the revenue expenditure occurred stands at $147.14 million. The projected import for 2020 has been marked at 12,378 tonnes and expenditures to reach $61.50 million. However, when the 2020 import volume and expenditures get assorted with the previous three years it stands at 52,055 tonnes and $208.64 million respectively.

In 2017, Chile’s import of aluminium bar rods stood at 8,473 tonnes and expenditures remained at $27.29 million, whereas in 2018 the import exhibited growth by 100.27%, as the import volume surged to 16,969 tonnes and expenditure stood at $59.85 million.

Aluminium bar rod and profiles importation in 2019, depicted downfall by 16.11%, as the import volume dropped to 14,235 tonnes, while expenditures remain high at $60 million.

The projected for 2020 has been also analysed with de-growth by 13.04%, as the import volume to remain at 12,378 tonnes, but the expenditure rose to $61.50 million.

Chile’s major trading nations for the importation of Aluminium bar rods and profiles are Argentina, Brazil, China, Finland, Germany, India, Italy, Spain, Sweden, Turkey, USA, etc.