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2023
Exports $630MWorld Rnk 19 / 127
Flag Rnk 518 / 1215
2023
Destination $164M Japan
2022 - 2023
FASTEST GROWING MARKET $164MSouth Korea
2023
PRODUCT COMPLEXITY IN Iron Ore-1.87Rnk 987 / 1025
2023
Imports $112BWorld Rnk 1 / 125
Flag Rnk 3 / 1214
2023
Origin $2.28B Australia
2022 - 2023
FASTEST GROWING ORIGIN $2.28BIndia
2023
ECONOMIC COMPLEXITY of China1.16Rnk 21 / 132

About

Exports In 2023, China exported $630M in Iron Ore, making it the 19th largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 518th most exported product in China. The main destination of Iron Ore exports from China are: Japan ($223M), South Korea ($180M), Vietnam ($127M), Chinese Taipei ($79.9M), and Philippines ($7.44M).

The fastest growing export markets for Iron Ore of China between 2022 and 2023 were South Korea ($164M), Vietnam ($49.1M), and Philippines ($7.42M).

Imports In 2023, China imported $112B in Iron Ore, becoming the 1st largest importer of Iron Ore in the world. At the same year, Iron Ore was the 3rd most imported product in China. China imports Iron Ore primarily from: Australia ($71.8B), Brazil ($20.6B), South Africa ($3.77B), India ($3.45B), and Canada ($1.94B).

The fastest growing import markets in Iron Ore for China between 2022 and 2023 were India ($2.28B), Brazil ($1.58B), and Iran ($982M).

Latest Trends

December 2024

About

Overview In December 2024 China's Iron Ore exports accounted up to $210M and imports accounted up to $11B, resulting in a negative trade balance of $10.8B. Between December 2023 and December 2024 the exports of China's   Iron Ore have increased by $19.9M (10.5%) from $190M to $210M, while imports decreased by $-1.44B (-11.6%) from $12.4B to $11B.

Destinations In December 2024, Iron Ore were exported mostly to Japan ($131M), Chinese Taipei ($51.9M), Malaysia ($12.2M), South Korea ($7.59M), and Indonesia ($6.59M), and were imported mostly from Australia ($6.61B), Brazil ($2.59B), South Africa ($332M), Peru ($232M), and Canada ($199M).

Growth In December 2024, the increase in Iron Ore's year-by-year exports was explained primarily by an increase in exports to Chinese Taipei ($40.5M or 118%) and South Korea ($22.7M or 244%). In December 2024, the decrease in Iron Ore's year-by-year imports was explained primarily by a decrease in imports from Canada ($-21.2M or -10.4%), Mexico ($-7.21M or -63.6%), and Turkey ($-2.52M or -12.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$19.9M(10.5%)
IMPORT GROWTH (December 2023 - December 2024)$-1.44B(-11.6%)
MAIN EXPORTER (December 2024)Shandong Province$192M
MAIN DESTINATION (December 2024)Japan$131M

This section shows Iron Ore's exports and imports data at subnational level for China. 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
EXPORTS (2023)$630M
IMPORTS (2023)$112B
NET TRADE (2023)-$112B

In 2023, China exported $630M in Iron Ore. The main destinations of China exports on Iron Ore were Japan ($223M), South Korea ($180M), Vietnam ($127M), Chinese Taipei ($79.9M), and Philippines ($7.44M).

In 2023, China imported $112B in Iron Ore, mainly from Australia ($71.8B), Brazil ($20.6B), South Africa ($3.77B), India ($3.45B), and Canada ($1.94B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR China WERE (2022 - 2023):
South Korea$164M (1.02k%)
Vietnam$49.1M (63.1%)
Philippines$7.42M (36.8k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY China WERE (2022 - 2023):
Japan-$1.74B (-88.7%)
Chinese Taipei-$142M (-64%)
Indonesia-$21.9M (-85.7%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, China's main exporting competitors in Iron Ore were:
Australia $85.4B
Brazil $34B
Canada $7.23B
In 2023, China's main importing competitors in Iron Ore were:
Japan $9.3B
South Korea $7.07B

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Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALVietnam+ $61.9M
TOP IMPORT POTENTIALIndia+ $1.09B

Iron Ore’s highest export potential is Vietnam. With an export gap of $61.9M.   Iron Ore’s highest import potential is India with an import gap of $1.09B.

See methodology.

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