Key Market Indicators
Cyprus is on track to see its iron ore imports rise to nearly $96,000 by 2028, up from approximately $82,000 in 2023. This marks an annual compound growth rate of 2.4% over the period. Historically, Cypriot demand for iron ore has shown a steady increase of 1.8% per year since 1997. As of 2023, Cyprus holds the 59th position globally in iron ore imports, having been overtaken by Latvia, which also recorded imports of around $82,000. Leading the global rankings in iron ore imports are Japan, South Korea, and Germany, occupying the second, third, and fourth spots respectively.
