Key Market Indicators
Belarus is projected to see its iron ore imports climb to approximately $3.4 million by 2028, up from nearly $3 million in 2023. This represents an annual compound growth rate of 2.3%. However, it's worth noting that since 2003, Belarusian demand for iron ore has seen a slight decline, averaging a 0.3% decrease per year. In the global ranking for iron ore imports in 2023, Belarus held the 40th position. Denmark edged out Belarus with the same import value of about $3 million. Leading the pack in iron ore imports were Japan, South Korea, and Germany, holding the second, third, and fourth spots, respectively.
