Data:
- 2024: $81.116 Billion
- 2025: $82.566 Billion
- 2026: $83.987 Billion
- 2027: $85.38 Billion
- 2028: $86.744 Billion
Year-on-Year Variations:
- 2024 - 2025: (82.566 - 81.116) / 81.116 * 100 = 1.79%
- 2025 - 2026: (83.987 - 82.566) / 82.566 * 100 = 1.72%
- 2026 - 2027: (85.38 - 83.987) / 83.987 * 100 = 1.65%
- 2027 - 2028: (86.744 - 85.38) / 85.38 * 100 = 1.60%
Compound Annual Growth Rate (CAGR) over 5 Years:
The CAGR from 2024 to 2028 is calculated as follows:
CAGR = [(86.744 / 81.116)^(1/4) - 1] * 100 ≈ 1.69%
Future Trends to Watch:
Continued moderate growth is anticipated in the import of unagglomerated iron ore and concentrate to China, reflecting stable demand in infrastructural and industrial sectors. Key trends to watch include fluctuations in global iron ore prices, Chinese steel production levels, and evolving trade policies. Additionally, increased investment in recycling and alternative materials may also impact future import trends.