Morocco’s export of aluminium scrap during 2018-20 demonstrates steady growth; 5% downfall estimated for 2021

According to the projections by World Bank, Morocco’s gross domestic product (GDP) is expected to reach a growth of 4.6% in 2021. The institution made the assessment in its “World Economic Outlook” for the MENA region, saying that Morocco’s GDP growth will be due to “several factors, including reduced drought-related problems, continued accommodative policies, and the easing of restrictions on internal travel.”

The automotive industry makes around one-fourth of the nation’s export, which creates a good amount of aluminium scrap. The scrap is also collected from the construction sector and from few other sources. The North African nation exported 45,205 tonnes of aluminium scrap during 2018-20 and the revenue generated from the export was $55.76 million.

Morocco’s export of aluminium scrap in 2018 was recorded at 10,851 tonnes and the earnings accounted was $15.28 million, whereas, in 2019, the export saw a rise by 35.51%, as the export volume surged to 14,705 tonnes and the earnings also grew to $17.32 million.

The export for 2020 was further demonstrated with 40.42%, as the export volume soared to 20,649 tonnes and the earnings climbed to $23.16 million.

Morocco’s export of aluminium scrap for 2021is analysed with a 5.39% downfall, as the export volume is expected to drop at 19,534 tonnes and the earnings to stand at $24.77 million.

The major trading destinations for Morocco’s export of aluminium scrap are Belgium, Brazil, France, Greece, Germany, India, Italy, Malaysia, etc.

 

source https://www.alcircle.com/news/moroccos-export-of-aluminium-scrap-during-2018-20-demonstrates-steady-growth-5-downfall-estimated-for-2021-68968