Key Market Indicators
Ukrainian iron ore exports are projected to hit approximately $3.4 billion by 2028, up from around $3.1 billion in 2023. This marks an average annual growth rate of 1.6%. Since 2001, the country's export supply has increased by an average of 1.4% per year. In 2023, Ukraine ranked fifth in global iron ore exports, with South Africa leading at approximately $3.1 billion. Brazil, Canada, and South Africa occupied the second, third, and fourth positions, respectively. On the import side, Ukraine's iron ore imports plummeted to roughly $8.3 million in 2018, down from $29.4 million in 2017—a significant 71.8% decrease. Since 2001, Ukrainian demand for imported iron ore has declined by an average of 49.6% annually.
