Over the past decade, Spain's import of iron ores and concentrates showed moderate fluctuations. From 2013 to 2020, the value ranged from approximately 6.259 billion kilograms to 5.518 billion kilograms, with occasional increases and decreases. The annual import value in 2023 stood at 6.8102 billion kilograms. The year-on-year variation for 2022 and 2023 was minimal, indicating a steady trend. Notably, the past five years' compound annual growth rate (CAGR) was around 0.63%, showing an overall modest increase. The forecast suggests a continued gradual rise, reaching approximately 7.0868 billion kilograms by 2028, implying a 3.18% growth rate over the next five years.
Future trends to watch include shifts in global iron ore supply chains, potential fluctuations in global demand, and changes in trade policies. Market conditions resulting from geopolitical events and technological advancements in mining and material processing might also influence Spain's iron ore import volumes.
