Key Market Indicators
Luxembourg's iron ore imports plummeted to approximately $2,200 in 2023, a sharp decline from $3,400 in 2022, representing a 36% drop compared to the previous year. This continues a downward trend observed since 2004, with Luxembourger demand decreasing at an average annual rate of 26%. In the global rankings for 2023, Luxembourg fell to the 68th position. Bolivia surpassed Luxembourg with similar iron ore import figures of around $2,200. Leading the global rankings, Japan, South Korea, and Germany secured the second, third, and fourth spots, respectively.
