Key Market Indicators
**Malaysian Iron Ore Imports Projected to Surge by 2028** Kuala Lumpur, Malaysia — Malaysian iron ore imports are set to soar to approximately $1.5 billion by 2028, up from $1.2 billion in 2023. This marks a steady annual growth rate of 3%, according to the latest data. Since 1994, Malaysia's demand for iron ore has increased by an average of 3.3% each year. In the global rankings for 2023, Malaysia held the sixth position, with France surpassing it at $1.2 billion. Leading the list were Japan, South Korea, and Germany, occupying the second, third, and fourth spots, respectively. **Malaysian Iron Ore Exports on the Rise** On the export front, Malaysia's iron ore exports are expected to climb to around $1.4 billion by 2028, up from $1.1 billion in 2023. This represents an annual growth rate of 3.3%. Since 1994, the country's iron ore supply has surged by an average of 6% per year. In 2023, Malaysia ranked eighth in iron ore exports, with Russia surpassing it at $1.1 billion. The top exporters were Brazil, Canada, and South Africa, holding the second, third, and fourth positions, respectively.