Iron imports to Spain have shown fluctuations over the past decade, with volumes in 2023 standing at 22.21 million metric tons. The past two years saw an overall increase in iron imports, rising by 5.57% from 2022. The five-year CAGR from 2018 to 2023 has been slightly negative at -1.66%, indicating a minor decrease on average each year.
Forecasting from 2024 to 2028 suggests a more stable growth, with the five-year CAGR projected to be 0.86%. Iron imports are expected to reach 23.44 million metric tons by 2028, reflecting a cumulative increase of 4.36% over this forecasting period.
Future trends to watch for include potential economic fluctuations impacting industrial demand, as well as policies around trade and tariffs which could either impede or bolster import volumes. Additionally, investment in alternative materials and local production capacities could influence future import trends.