Key Market Indicators
Swiss iron ore exports are projected to reach nearly $302,000 by 2028, up from approximately $247,000 in 2023. This marks an average annual growth rate of 3.2%. However, this growth comes after a long-term decline, with Swiss iron ore supply having decreased by 21.4% per year since 1993. In 2023, Switzerland ranked 38th in iron ore exports, with Romania narrowly ahead at the same export value of $247,000. Leading the global rankings were Brazil, Canada, and South Africa, occupying the second, third, and fourth spots respectively. On the import front, Swiss iron ore imports are expected to climb to roughly $1.78 million by 2028, from around $1.59 million in 2023. This represents a compound annual growth rate (CAGR) of 1.8%. Despite this growth, Swiss demand has seen a yearly decline of 2.4% since 1993. In 2023, Switzerland was the 44th largest importer of iron ore, with Palestine positioned just ahead at the same import value of $1.59 million. Japan, South Korea, and Germany were the second, third, and fourth largest importers respectively.
