Key Market Indicators
Macedonian Iron Ore Import is projected to climb to approximately $127,000 by 2028, up from an estimated $94,000 in 2023. This marks an average annual growth rate of 4.7%. Notably, since 2014, Macedonian demand for iron ore has surged by nearly 40% each year. In 2023, North Macedonia ranked 57th globally in iron ore imports, with New Zealand surpassing it at around $94,000. The leading importers in this category were Japan, South Korea, and Germany, occupying the second, third, and fourth spots, respectively. On the export front, Macedonian Iron Ore Export is expected to decline to approximately $1,300 by 2028, down from $1,450 in 2023. This represents a compound annual growth rate (CAGR) of -1.5%. Since 1999, the country's iron ore supply has decreased by about 4.6% annually. In 2023, North Macedonia was ranked 46th in iron ore exports, with Estonia ahead at $1,450. The top exporters were Brazil, Canada, and South Africa, holding the second, third, and fourth positions, respectively.
