In 2023, China continued its dominance in the global import of iron ores and concentrates with a significant share of 70.16%. Japan and South Korea were distant followers with shares of 8.71% and 4.63%, respectively. Germany and France held shares of 3.01% and 1.12%, respectively. Although several countries such as Malaysia (1.06%), Egypt (1.02%), and India (0.99%) had smaller shares, they showed positive year-on-year growth rates of 3.26%, 2.93%, and 2.22% respectively. Meanwhile, countries like Norway (-10.72%), Italy (-7.45%), and Mexico (-7.82%) experienced notable declines in their import shares.
Future trends to watch for in the global import of iron ores and concentrates include potential growth in smaller markets such as Bosnia and Herzegovina, which showed an impressive 152.77% increase, and Paraguay with a 22.06% rise. The stability of larger markets like China might also shape global import dynamics, alongside geopolitical factors influencing trade policies and economic growth in emerging markets.
Top countries in Import of Iron Ores and Concentrates Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 70.16 | 2023 | +1.64% | +1.67% | View data |
| 2 | 2 Japan | 8.71 | 2023 | -0.46% | +1.69% | View data |
| 3 | 3 South Korea | 4.63 | 2023 | +0.1% | -0.082% | View data |
| 4 | 4 Germany | 3.01 | 2023 | -0.23% | -0.74% | View data |
| 5 | 5 France | 1.12 | 2023 | +0.29% | -0.5% | View data |
| 6 | 6 Malaysia | 1.06 | 2023 | +4.24% | +3.26% | View data |
| 7 | 7 Egypt | 1.02 | 2023 | +4.32% | +2.93% | View data |
| 8 | 8 India | 0.99 | 2023 | +5.09% | +2.22% | View data |
| 9 | 9 Saudi Arabia | 0.79 | 2023 | +0.53% | -0.095% | View data |
| 10 | 10 Canada | 0.69 | 2023 | +1.43% | +0.95% | View data |
