The import of Iron Ores and Concentrates to Canada stood at 800 million US dollars in 2023. The forecasted data from 2024 to 2028 shows a steady increase from 809.71 million US dollars in 2024 to 856.04 million US dollars in 2028. This upward trend represents a year-on-year growth of approximately 1.47% from 2024 to 2025, 1.42% from 2025 to 2026, 1.38% from 2026 to 2027, and 1.32% from 2027 to 2028. The compounded annual growth rate (CAGR) over these five years is about 1.4%.
Future trends to watch for include global market fluctuations in iron ore prices, Canadian government policies on import duties and trade agreements, and potential shifts in demand from industrial sectors such as metallurgy, construction, and manufacturing.
