Key Market Indicators
Lithuanian iron ore imports are on track to reach approximately $536,000 by 2028, up from around $467,000 in 2023. This represents an average annual growth rate of 2.2%. Since 1999, Lithuania's demand for iron ore has increased by an average of 7.3% each year. In 2023, Lithuania ranked 50th in iron ore imports, with Ireland surpassing it at about $467,000. Japan, South Korea, and Germany held the second, third, and fourth positions, respectively. On the export front, Lithuanian iron ore exports saw a dramatic rise, totaling roughly $52,000 in 2017, up from just over $6,000 in 2016. This marks an astonishing 764% increase within a year. Since 2012, the country's iron ore supply has surged by an average of 43% annually.
