Key Market Indicators
**German Iron Ore Export Forecast to Reach $5.4 Million by 2028** Germany's iron ore export is projected to increase to $5.4 million by 2028, up from $5.2 million in 2023. This marks an average annual growth rate of 0.5%. Historical data since 1996 indicates that German exports have grown by an average of 6.1% each year. In 2023, Germany ranked 26th in iron ore exports, with France taking the lead at $5.2 million. The top three exporters were Brazil, Canada, and South Africa, respectively. **German Iron Ore Import Expected to Decline to $3.5 Billion by 2028** On the import side, Germany's iron ore imports are anticipated to decrease slightly to $3.5 billion by 2028, down from $3.5 billion in 2023. This represents an average annual decline of 0.2%. Since 1996, German demand for iron ore has decreased by an average of 0.7% each year. In 2023, Germany ranked fourth in iron ore imports. South Korea surpassed Germany, with imports valued at $3.5 billion. Japan, South Korea, and Germany were the second, third, and fourth largest importers, respectively.
