Key Market Indicators
Tobagonian iron ore imports are projected to climb to approximately $328 million by 2028, up from around $314 million in 2023. This marks a steady annual growth rate of 0.7%. The demand for iron ore in Tobago has been on the rise since 1996, growing at an average rate of 0.9% per year. On the export front, Tobago's iron ore shipments are expected to decrease to roughly $186 million by 2028, down from about $196 million in 2023. This represents an average annual decline of 0.8%. The supply of iron ore from Tobago has been contracting at an average rate of 1% per year since 2001.
