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2022
Exports $1.61BWorld Rnk 12 / 128
Flag Rnk 194 / 1217
2022
Destination $64.5M Canada
2021 - 2022
FASTEST GROWING MARKET $64.5MGermany
2022
PRODUCT COMPLEXITY IN Iron Ore-1.79Rnk 980 / 1025
2022
Imports $997MWorld Rnk 16 / 130
Flag Rnk 400 / 1216
2022
Origin $26.9M Brazil
2021 - 2022
FASTEST GROWING ORIGIN $26.9MCanada
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $1.61B in Iron Ore, making it the 12th largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 194th most exported product in United States. The main destination of Iron Ore exports from United States are: Canada ($723M), China ($209M), Germany ($129M), Trinidad and Tobago ($120M), and Japan ($75.5M).

The fastest growing export markets for Iron Ore of United States between 2021 and 2022 were Germany ($64.5M), Finland ($52.6M), and Netherlands ($33.2M).

Imports In 2022, United States imported $997M in Iron Ore, becoming the 16th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 400th most imported product in United States. United States imports Iron Ore primarily from: Brazil ($457M), Canada ($330M), Sweden ($152M), Chile ($21.7M), and Bahrain ($17.2M).

The fastest growing import markets in Iron Ore for United States between 2021 and 2022 were Canada ($26.9M), North Macedonia ($5.1M), and Netherlands ($2.28M).

COMPANIES In 2023, leading companies such as Electrolux (1) and Teknor Apex (1) were at the forefront of shipping Iron Ore to the United States.

Latest Trends

August 2024

About

Overview In August 2024 United States' Iron Ore exports accounted up to $118M and imports accounted up to $35.2M, resulting in a positive trade balance of $82.9M. Between August 2023 and August 2024 the exports of United States'   Iron Ore have increased by $1.71M (1.47%) from $116M to $118M, while imports decreased by $-16.3M (-31.6%) from $51.6M to $35.2M.

Destinations In August 2024, Iron Ore were exported mostly to Canada ($84.2M), China ($9.67M), Indonesia ($9.46M), Germany ($7.3M), and Finland ($7.26M), and were imported mostly from Brazil ($16.8M), Canada ($9.43M), Chile ($6.14M), Sweden ($2.38M), and South Africa ($500k).

Growth In August 2024, the increase in Iron Ore's year-by-year exports was explained primarily by an increase in exports to Netherlands ($10.5M or 147%), Canada ($9.87M or 33%), and Costa Rica ($1.38k or 11.7%). In August 2024, the decrease in Iron Ore's year-by-year imports was explained primarily by a decrease in imports from Canada ($-20.3M or -58%), Brazil ($-19.8M or -30.2%), and Sweden ($-18M or -99.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$1.71M(1.47%)
IMPORT GROWTH (August 2023 - August 2024)$-16.3M(-31.6%)
MAIN EXPORTER (August 2024)Minnesota$68.2M
MAIN DESTINATION (August 2024)Canada$84.2M

This section shows Iron Ore's exports and imports data at subnational level for United States. 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 (2022)$1.61B
IMPORTS (2022)$997M
NET TRADE (2022)$614M

In 2022, United States exported $1.61B in Iron Ore. The main destinations of United States exports on Iron Ore were Canada ($723M), China ($209M), Germany ($129M), Trinidad and Tobago ($120M), and Japan ($75.5M).

In 2022, United States imported $997M in Iron Ore, mainly from Brazil ($457M), Canada ($330M), Sweden ($152M), Chile ($21.7M), and Bahrain ($17.2M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR United States WERE (2021 - 2022):
Germany$64.5M (99.3%)
Finland$52.6M (1%)
Netherlands$33.2M (117%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY United States WERE (2021 - 2022):
Japan-$67.9M (-47.4%)
United Kingdom-$61.5M (-60.2%)
Italy-$46.4M (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Iron Ore were:
Australia $87.9B
Brazil $30.1B
Canada $6.81B
In 2022, United States's main importing competitors in Iron Ore were:
China $103B
Japan $11.3B
South Korea $7.58B

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Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $232M
TOP IMPORT POTENTIALCanada+ $222M

Iron Ore’s highest export potential is China. With an export gap of $232M.   Iron Ore’s highest import potential is Canada with an import gap of $222M.

See methodology.

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