Overview This page contains the latest trade data of Iron Ore. In 2020, Iron Ore were the world's 13th most traded product, with a total trade of $141B. Between 2019 and 2020 the exports of Iron Ore grew by 12.5%, from $126B to $141B. Trade in Iron Ore represent 0.84% of total world trade.
Iron Ore are a part of Ores, slag and ash. They include Iron ore, concentrate, not iron pyrites,unagglomerate, Iron ore, concentrate, not iron pyrites, agglomerated, and Roasted iron pyrites.
Exports In 2020 the top exporters of Iron Ore were Australia ($79.6B), Brazil ($26.5B), Canada ($5.73B), Ukraine ($4.27B), and South Africa ($4.06B).
Imports In 2020 the top importers of Iron Ore were China ($99B), Japan ($8.24B), South Korea ($5.94B), Malaysia ($2.27B), and Singapore ($2.23B).
Tariffs In 2018 the average tariff for Iron Ore was 1.94%, making it the 1246th lowest tariff using the HS4 product classification.
The countries with the highest import tariffs for Iron Ore are Bahamas (40.2%), Bhutan (29.4%), Bermuda (25%), and Cayman Islands (22%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).
Ranking Iron Ore ranks 983rd in the Product Complexity Index (PCI).
Description Iron ores are used in the production of steel. Iron concentrates are used in the production of pig iron. Roasted iron pyrites is used in the production of sulfuric acid.