Iron Ore in Canada | The Observatory of Economic Complexity

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Exports In 2022, Canada exported $6.81B in Iron Ore, making it the 3rd largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 15th most exported product in Canada. The main destination of Iron Ore exports from Canada are: China ($1.67B), Netherlands ($799M), Japan ($778M), South Korea ($620M), and France ($511M).

The fastest growing export markets for Iron Ore of Canada between 2021 and 2022 were Belgium ($76.8M), South Korea ($76M), and Qatar ($46.9M).

Imports In 2022, Canada imported $729M in Iron Ore, becoming the 20th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 156th most imported product in Canada. Canada imports Iron Ore primarily from: United States ($723M), Australia ($4.39M), Sweden ($1.85M), Gabon ($6.32k), and Canada ($5.06k).

The fastest growing import markets in Iron Ore for Canada between 2021 and 2022 were Australia ($805k), Gabon ($6.32k), and Canada ($5.06k).

COMPANIES In 2023, leading companies such as were at the forefront of shipping Iron Ore from Canada to the United States.

Latest Trends

January 2024

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Overview In January 2024 Canada's Iron Ore exports accounted up to C$718M and imports accounted up to C$61.2M, resulting in a positive trade balance of C$657M. Between January 2023 and January 2024 the exports of Canada's Iron Ore have increased by C$58.7M (8.9%) from C$659M to C$718M, while imports increased by C$9.38M (18.1%) from C$51.8M to C$61.2M.

Destinations In January 2024, Iron Ore were exported mostly to China (C$239M), South Korea (C$82.3M), Japan (C$79.1M), Netherlands (C$73M), and Spain (C$66.8M), and were imported mostly from United States (C$61.2M), South Africa (C$3.31k), Chile (C$1.35k), Kazakhstan (C$546), and Japan (C$95).

Growth In January 2024, the increase in Iron Ore's year-by-year exports was explained primarily by an increase in exports to China (C$141M or 151%), Japan (C$48.6M or 51.8%), and Germany (C$43.6M or 1.59k%). In January 2024, the increase in Iron Ore's year-by-year imports was explained primarily by an increase in imports from United States (C$15.6M or 43.1%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)C$58.7M(8.9%)

IMPORT GROWTH (January 2023 - January 2024)C$9.38M(18.1%)

MAIN EXPORTER (January 2024)QuebecC$555M

MAIN DESTINATION (January 2024)ChinaC$239M

This section shows Iron Ore's exports and imports data at subnational level for Canada. 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.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$6.81B

IMPORTS (2022)$729M

NET TRADE (2022)$6.08B

In 2022, Canada exported $6.81B in Iron Ore. The main destinations of Canada exports on Iron Ore were China ($1.67B), Netherlands ($799M), Japan ($778M), South Korea ($620M), and France ($511M).

In 2022, Canada imported $729M in Iron Ore, mainly from United States ($723M), Australia ($4.39M), Sweden ($1.85M), Gabon ($6.32k), and Canada ($5.06k).

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