In 2023, Australia led in iron ore exports, holding a substantial share with exports valued at $39.69 billion, followed by Brazil at $13.29 billion. South Africa and Canada also ranked as notable exporters with $3.58 billion and $2.88 billion respectively. Sweden and India contributed smaller yet significant amounts at $1.61 billion and $1.01 billion.
From 2022 to 2023, Australia observed a minor increase in exports, while Brazil experienced a more considerable growth percentage-wise. South Africa, Canada, and Sweden showed stability in their export values year-on-year. Over the past five years, Australia's CAGR has been strong due to sustained demand, while Brazil has also shown consistent growth.
Future trends to watch for include technological advancements in mining, shifts in global demand primarily driven by China and India, and potential disruptions due to geopolitical factors or regulatory changes impacting production and trade flows.
Top countries in Top Exporters of Iron Ores and Concentrates
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 Australia | 39,690 | 2016 | |
| 2 | 2 Brazil | 13,290 | 2016 | |
| 3 | 3 South Africa | 3,580 | 2016 | |
| 4 | 4 Canada | 2,880 | 2016 | |
| 5 | 5 Sweden | 1,610 | 2016 | |
| 6 | 6 India | 1,010 | 2016 | |
| 7 | 7 Chile | 828.63 | 2016 | |
| 8 | 8 Malaysia | 814.44 | 2016 | |
| 9 | 9 Russia | 802.27 | 2016 | |
| 10 | 10 Bahrain | 777 | 2016 |
