Shorouk Express
BAKU, Azerbaijan, March 28. The European Union
recorded a trade deficit of 11.1 billion euros in aluminum and
related products in 2024, with imports reaching 29.5 billion euros,
while exports stood at 18.4 billion euros, Trend reports.
According to the latest Eurostat data, despite a decline in the
physical volume of both imports (-6.2%) and exports (-1.7%)
compared to 2019, the total value of trade increased. Imports grew
by 29.9% (+ 6.8 billion euros) and exports by 21.3% (+ 3.2 billion
euros), indicating that rising prices rather than higher trade
volumes drove the increase.
Norway and China remained the EU’s top aluminum suppliers, with
imports valued at 4.4 billion euros (15.0% of total imports) and
3.9 billion euros (13.1%), respectively.
Türkiye (2.8 billion euros), Iceland (2.1 billion euros), and
Switzerland (1.7 billion euros) also played significant roles in
the EU’s aluminum supply chain. Among them, imports from Iceland
more than doubled (+104.9%) compared to 2019, while Türkiye’s
aluminum exports to the EU nearly doubled (+95.4%).
On the export side, the UK remained the EU’s largest aluminium
trade partner, purchasing 3.7 billion euros worth of aluminium
(19.9% of total exports). The U.S. (2.6 billion euros), Switzerland
(2.4 billion euros), Türkiye (0.9 billion euros), and India (0.8
billion euros) followed. Notably, EU aluminum exports to India
surged by 135.6% since 2019, while shipments to Türkiye increased
by 66.7%.
