Key Market Indicators
Kazakhstan's iron ore exports have experienced a notable decline in 2023, dropping to approximately $232 million from $277 million in 2022. This represents a 16.3% decrease compared to the previous year. The country's supply has been on a downward trend since 2006, with an average annual decrease of 13.7%. In 2023, Kazakhstan ranked 16th in global iron ore exports, with Peru surpassing it at the same $232 million mark. Leading the rankings were Brazil, Canada, and South Africa, occupying the second, third, and fourth positions, respectively. On the import front, Kazakhstan's iron ore import values are projected to decrease, reaching about $9.6 million by 2028, down from $12.2 million in 2023. This decline reflects an average annual reduction of 3.9%. Conversely, since 2006, the country's demand for iron ore has increased by 2.3% annually. In 2023, Kazakhstan was positioned 37th in global iron ore imports, with Mozambique ahead at $12.2 million. Japan, South Korea, and Germany ranked second, third, and fourth, respectively, in the same category.
