Key Market Indicators
Kuwait's iron ore export is projected to reach approximately $20,800 by 2028, up from around $20,650 in 2023, marking a modest annual growth rate of 0.1%. Since 2016, Kuwait's iron ore supply has seen a substantial increase, growing nearly 25% per year. In the global rankings for 2023, Kuwait holds the 41st position, with Singapore slightly ahead at $20,650. Leading the list are Brazil, Canada, and South Africa, occupying the second, third, and fourth spots, respectively. On the import front, Kuwait's iron ore imports surged dramatically, totaling around $574,000 in 2018, a stark increase from approximately $52,000 in 2017. This represents an astounding 995% growth compared to the previous year. Since 2005, Kuwaiti demand for iron ore has increased at an average annual rate of 42.3%.
