Iron exports from the UK stood at 12.15 million metric tons in 2023. This data reveals a steady decline in exports between 2013 and 2023, with occasional year-on-year variations. 2013 saw a value of 15.54 million metric tons, peaking slightly in 2014 to 15.72, followed by a gradual decline throughout the subsequent years. The recent 5-year compound annual growth rate (CAGR) from 2018 to 2023 shows an average reduction of 1.95% annually, while the forecasted 5-year CAGR up to 2028 predicts a further annual decline of 0.93%. Future projections suggest a continued decrease, expecting iron exports to fall to 11.46 million metric tons by 2028.

Future trends to watch for:

Potential impacts of global economic fluctuations and trade policies on iron export demand.
Technological advancements in production and export methods that might improve efficiency or demand.
Environmental regulations affecting the iron mining and export industries.
Market shifts or emergence of new competitors affecting the UK’s market share in iron exports.