Jan 6 (LTIT) –The economy of Australia's grew by 3.3% in the third quarter, recovering from its first recession in nearly three decades as it recovered from pandemic-related shocks, according to report released at the beginning of December’20. Josh Frydenberg, MP and Treasurer commented that the country still has a lot of ground to make up from the Covid-19 downturn. "Australia's recession may be over, but Australia's economic recovery is not," he said.

Australia’s export of aluminium scrap in 2018-19 was recorded at 240,652 tonnes and the earnings accounted for the import remained at $350.76 million. The export for 2020 stood at 119,075 tonnes and the earnings recorded was $67.24 million. However, when the export for 2020 gets assorted with the preceding two years, it signifies 359,727 tonnes and $418 million respectively.

The nation’s export of aluminium scrap in 2018 stood at 145,498 tonnes and the earning remained at $240.85 million, whereas, in 2019, the export saw de-growth by 34.60%, as the import volume fell to 95,154 tonnes and earning also dropped to $109.91 million.

Australia’s aluminium scrap export in 2020 again saw growth by 25.13%, as the export volume rose to 119,075 tonnes, while the revenue earning declined to $67.24 million.

Aluminium Industry Recap: 2020

The major trading destinations for Australia’s export of aluminium scrap are Bahrain, Bangladesh, Germany, France, Brazil, Greece, Hong Kong, India, Italy, Japan, etc.