Key Market Indicators
**Spanish Iron Ore Export to Soar to $79 Million by 2028** Spain's iron ore export is projected to climb from approximately $60 million in 2023 to nearly $79 million by 2028, marking an average annual growth rate of 4.3%. This steady increase builds on a historical trend, with Spanish supply rising by 0.6% year on year since 1994. In the global rankings for 2023, Spain held the 19th spot in iron ore exports, while the Philippines slightly edged ahead with an equivalent value of around $60 million. Leading the list were Brazil, Canada, and South Africa, occupying the second, third, and fourth positions respectively. **Spanish Iron Ore Import Projected to Hit $620 Million by 2028** On the import front, Spain is expected to see its iron ore imports grow from approximately $584 million in 2023 to nearly $620 million by 2028. This represents an average annual growth rate of 0.9%. Since 1994, Spanish demand for iron ore has risen by 0.4% year on year. In 2023, Spain ranked 20th globally in iron ore imports, with Poland narrowly ahead at the same import value. Japan, South Korea, and Germany led the rankings, taking the second, third, and fourth positions respectively.
