Iron Ore in Russia

EXPORTS (2018): $1.69B, World Rnk 7 / 98
Flag Rnk 23 / 1196

TOP DESTINATION (2018): $434M, Ukraine

FASTEST GROWING MARKET (2017 - 2018): $286M, Ukraine

IMPORTS (2018): $424M, World Rnk 27 / 118
Flag Rnk 140 / 1200

TOP ORIGIN (2018): $422M, Kazakhstan

FASTEST GROWING ORIGIN (2017 - 2018): $8.85k, Germany

ECONOMIC COMPLEXITY of Russia (2018): 0.6, Rnk 41 / 137

PRODUCT COMPLEXITY  IN Iron Ore (2018): -1.84, Rnk 985 / 1018

Overview: This page contains the latest trade data of Iron Ore in Russia.

Exports: In 2018, Russia exported $1.69B in Iron Ore, making it the 7th largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 23rd most exported product in Russia. The main destination of Iron Ore exports from Russia are: Ukraine ($434M), China ($216M), Slovakia ($148M), Turkey ($125M), and United Kingdom ($115M).

The fastest growing export markets for Iron Ore of Russia between 2017 and 2018 were Ukraine ($286M), Egypt ($51.9M), and United Kingdom ($51.6M).

Imports: In 2018, Russia imported $424M in Iron Ore, becoming the 27th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 140th most imported product in Russia. Russia imports Iron Ore primarily from: Kazakhstan ($422M), Sweden ($769k), Ukraine ($630k), South Africa ($101k), and Turkey ($22.4k).

The fastest growing import markets in Iron Ore for Russia between 2017 and 2018 were Germany ($8.85k), Slovenia ($8.64k), and Poland ($8.51k).

Tariffs: In 2018, the average tariff for Russia in Iron Ore was 2.1%. The countries with the highest import tariffs for Iron Ore were Botswana (3.75%), Cote d'Ivoire (3.75%), Cameroon (3.75%), Republic of the Congo (3.75%), and Cape Verde (3.75%).

Overview: In June 2020 Russia's Iron Ore exports accounted up to $152M and imports accounted up to $41.9M, resulting in a positive trade balance of $111M. Between June 2019 and June 2020 the exports of Russia's   Iron Ore have increased by $51.3M (50.8%) from $101M to $152M, while imports decreased by $-24.5M (-36.9%) from $66.4M to $41.9M.

Destinations: In June 2020 Iron Ore exported mostly to China ($93.2M), Hungary ($12.2M), Turkey ($11.4M), Finland ($8.86M), and Vietnam ($7.92M), and imported mostly from Kazakhstan ($37.2M) and Finland ($4.62M).

Growth: In June 2020, the increase in Iron Ore's year-by-year exports was explained primarily by an increase in exports to China ($71.6M or 332%), Turkey ($7.12M or 167%), and Vietnam ($3.71M or 88%). In June 2020, the decrease in Iron Ore's year-by-year imports was explained primarily by a decrease in imports from Kazakhstan ($-29.1M or -43.9%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (June 2019 - June 2020): $51.3M, (50.8%)

IMPORT GROWTH (June 2019 - June 2020): $-24.5M, (-36.9%)

MAIN DESTINATION (June 2020): China, $93.2M

This section shows Iron Ore's exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Iron Ore over time.

Value

EXPORTS (2018): $1.69B

IMPORTS (2018): $424M

NET TRADE (2018): $1.27B

In 2018, Russia exported $1.69B in Iron Ore. The main destinations of Russia exports on Iron Ore were Ukraine ($434M), China ($216M), Slovakia ($148M), Turkey ($125M), and United Kingdom ($115M).

In 2018, Russia imported $424M in Iron Ore, mainly from Kazakhstan ($422M), Sweden ($769k), Ukraine ($630k), South Africa ($101k), and Turkey ($22.4k).

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IN 2018, Russia HAD A POSITIVE NET TRADE IN Iron Ore WITH:

  • Ukraine, $433M ($434M - $630k)
  • China, $216M ($216M - $0)
  • Slovakia, $148M ($148M - $0)

IN 2018, Russia HAD A NEGATIVE NET TRADE IN Iron Ore WITH:

  • Kazakhstan, -$411M ($11M - $422M)
  • Sweden, -$769k ($0 - $769k)
  • South Africa, -$101k ($0 - $101k)
Flow

THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR Russia WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY Russia WERE (2017 - 2018):

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Market Concentration

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Flow
Type

In 2018, Russia's main exporting competitors in Iron Ore were:

In 2018, Russia's main importing competitors in Iron Ore were:

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Iron Ore in Russia. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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Tariffs by Country

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In 2018, the average tariff for Russia in Iron Ore was 2.1%.

The countries with the highest tariffs for Iron Ore in Russia were Botswana (3.75%), Cote d'Ivoire (3.75%), Cameroon (3.75%), Republic of the Congo (3.75%), and Cape Verde (3.75%).

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