In 2024, China remains the dominant importer of unagglomerated iron ore and concentrate, accounting for the lion's share with 79.618 billion USD. Japan and South Korea are also significant importers, with values of 8.116 and 4.8781 billion USD, respectively. Germany, India, and Malaysia follow at lower levels, showcasing minor year-on-year fluctuations. Several European countries like France, the Netherlands, and Belgium display slight declines, whereas Eastern and South Asian countries like the Philippines and Malaysia see increases. Notably, smaller markets like Bosnia and Herzegovina and Moldova show exponential growth percentages year-on-year, indicating emerging trends.
Future trends to watch include China's consistent high demand, potential recovery in European markets, and emerging growth in smaller nations. The influence of geopolitical factors and shifts in global supply chains will significantly impact these import patterns. Additionally, environmental regulations and technological advancements could reshape the industry's landscape.
Top countries in Import of Unagglomerated Iron Ore and Concentrate by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 79,618,000,000 | 2023 | +1.74% | +1.84% | View data |
| 2 | 2 Japan | 8,116,000,000 | 2023 | -1.12% | +1.5% | View data |
| 3 | 3 South Korea | 4,878,100,000 | 2023 | +0.11% | +0.073% | View data |
| 4 | 4 Germany | 1,630,200,000 | 2023 | -2.28% | -2.47% | View data |
| 5 | 5 India | 1,033,700,000 | 2023 | +5.4% | +2.53% | View data |
| 6 | 6 Malaysia | 1,014,500,000 | 2023 | +4.4% | +3.89% | View data |
| 7 | 7 France | 785,300,000 | 2023 | -1.17% | -1.42% | View data |
| 8 | 8 Netherlands | 733,570,000 | 2023 | +2.47% | +1.76% | View data |
| 9 | 9 Bahrain | 719,670,000 | 2023 | +2.43% | -0.52% | View data |
| 10 | 10 Oman | 632,410,000 | 2023 | +2.3% | +3.07% | View data |