The import of unagglomerated iron ore and concentrate to Belgium is forecasted to decline steadily over the next five years. The import value is expected to decrease from USD 420.58 million in 2024 to USD 390.35 million by 2028. Comparing 2024’s forecasted value to 2023’s actual figures should be noted, but the data for 2023 is not provided here. Based on the given forecasted data, a year-on-year reduction can be observed: from 2024 to 2025 (-1.85%), from 2025 to 2026 (-1.85%), from 2026 to 2027 (-1.85%), and from 2027 to 2028 (-1.85%). This consistent decline results in a compound annual growth rate (CAGR) of approximately -1.8% for the period from 2024 to 2028.
Future trends to watch for include the potential impact of global economic conditions, changes in demand from key sectors such as steel manufacturing, and policy shifts affecting trade and environmental regulations. Additionally, advancements in alternative materials or recycling technologies could influence the import volume and value of unagglomerated iron ore and concentrate to Belgium.