Key Market Indicators
Pakistan's iron ore export is projected to reach approximately $6.8 million by 2028, up from around $5.9 million in 2023, marking an annual growth rate of 2.2%. Since 2009, the country's iron ore supply has seen a steady increase, growing at an annual rate of 1.8%. In 2023, Pakistan ranked 24th in global iron ore exports. Bulgaria slightly edged out Pakistan with exports also valued at around $5.9 million. Leading the global ranking were Brazil, Canada, and South Africa, securing the second, third, and fourth spots, respectively. On the import front, Pakistan's iron ore imports saw a dramatic increase in 2018, totaling roughly $107,000, a significant jump from about $26,000 in 2017. This represents an astonishing 306% increase compared to the previous year. However, since 2008, the country's demand for iron ore has generally been on the decline, dropping by an average of 69.5% annually.
