Brussels: The EU imported pound 29.5 billion worth of aluminium and related articles and exported pound 18.4 billion in 2024, resulting in a trade deficit of pound 11.1 billion, according to figures published by Eurostat, the statistical office of the European Union.
According to Emirates News Agency, compared with 2019, imports of aluminium increased by 29.9% (+pound 6.8 billion) and exports rose 21.3% (+pound 3.2 billion). These monetary increases occurred despite a decline in the physical weight of exports by 1.7% and imports by 6.2%, suggesting that the value increase was primarily driven by rising prices.
In 2024, Norway and China were the biggest EU import partners of aluminium and articles thereof, with imports worth pound 4.4 billion (15.0% of total imports) and pound 3.9 billion (13.1%), respectively. Trkiye (pound 2.8 billion; 9.4%), Iceland (pound 2.1 billion; 7.3%) and Switzerland (pound 1.7 billion; 5.8%) followed.
Among these top 5 countries, imports (in value) from Iceland more than doubled (+104.9%) when compared with 2019, and in case of Trkiye it almost doubled (+95.4%).
As for exports, the United Kingdom led the list with pound 3.7 billion worth of aluminium (19.9% of the total exports), followed by the United States, with pound 2.6 billion (14.1%) and Switzerland, with pound 2.4 billion (12.8%). Trkiye took the 4th place with pound 0.9 billion (5.0%) and India the 5th with pound 0.8 billion (4.5%).
Among this group, exports to India (+135.6%) and Trkiye (+66.7%) increased the most since 2019.