Key Market Indicators
Peru's iron ore export market is projected to reach approximately $472 million by 2028, up slightly from around $467 million in 2023. This represents a modest annual growth rate of 0.2%. However, since 1997, the country's iron ore supply has seen a yearly decline of 0.7%. In the global ranking of iron ore exporters for 2023, Peru stood in 15th place, having been overtaken by Oman. Leading the chart were Brazil, Canada, and South Africa, occupying the second, third, and fourth positions, respectively. On the import front, Peru's iron ore imports amounted to roughly $38,000 in 2018, down 3.3% from approximately $39,000 in 2017. Despite this recent decline, the demand for iron ore in Peru has grown at an annual rate of 2.3% since 1997.
