Key Market Indicators
Namibia's iron ore exports are projected to drop significantly, reaching approximately $4,300 by 2028, down from nearly $10,700 in 2023. This decline represents an average annual decrease of 14.4%. Since 2005, the country's iron ore supply has seen a consistent year-on-year decrease of 9.7%. In the global rankings for 2023, Namibia placed 44th, while Slovenia led with close to $10,700 in exports. Leading the rankings were Brazil, Canada, and South Africa, occupying the second, third, and fourth positions respectively. On the import front, Namibia's iron ore imports surged dramatically in 2018, totaling around $10,900, a substantial increase from $1,900 in 2017. This rise marks a 482% increase compared to the previous year. However, since 2005, the country's demand for iron ore has generally decreased by 31.5% annually.
