Norway Iron Ore Industry Outlook 2022 - 2026

Key Market Indicators

Norwegian imports of iron ore are forecast to drop to around $805 million by 2026, from $4.1 billion in 2021. This is a decrease of 25.7% year on year on average. Since 1998, Norwegian demand for iron ore has dropped by an average of 9.1% year on year. In 2021, Norway placed 44th in global rankings, with Bosnia and Herzegovina overtaking Norway at $4.1 billion. Japan, South Korea and Germany placed second, third and fourth respectively. Norwegian exports of iron ore are predicted to fall to $32 million by 2026, from $62 million in 2021. This is a year on year decrease of 10.8%. Since 1998, Norwegian supply of iron ore has decreased by 0.3% year on year. In 2021, Norway came in 22nd in the global rankings, with the Philippines surpassing Norway at $62 million. Brazil, Canada and South Africa placed second, third and fourth respectively.

Norway Iron Ore Market Data and Forecasts

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