Iron Ore2601 (Harmonized System 1992 for 4-digit)
2020 World Trade: $141B, Rnk 13 / 1217
2020 Top Exporter | Top Importer: $79.6B | $99B, Australia | China
2020 Product Complexity: -1.75, Rnk 983 / 1028
2019 - 2020 Export Growth (CAGR): 12.5%, Rnk 98 / 1217
2018 Mean Tariff: 1.94%, Rnk 1246 / 1259
2020 Share of World Trade: 0.84%, Rnk 13 / 1217
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 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.
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.
The following visualization shows the latest trends on Iron Ore. Countries are shown based on data availability.
For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.
* Using January 2020 exchange rates when trade data is reported in local currency.
Trade By Country
Iron Ore are the world's 13th most traded product.
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).
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).
Trade by country
Between 2019 and 2020, the exports of Iron Ore grew the fastest in Australia ($12B), Brazil ($3.52B), India ($1.48B), Chile ($869M), and Ukraine ($782M).
Between 2019 and 2020, the fastest growing importers of Iron Ore were China ($16B), Singapore ($1.92B), Hong Kong ($1.76B), Vietnam ($713M), and Indonesia ($316M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Iron Ore.
In 2020, market concentration measured using Shannon Entropy, was 2.41. This means that most of the exports of Iron Ore are explained by 5 countries.
This map shows which countries export or import more of Iron Ore. Each country is colored based on the difference in exports and imports of Iron Ore during 2020.
In 2020, the countries that had a largest trade value in exports than in imports of Iron Ore were Australia ($79.5B), Brazil ($26.4B), Canada ($5.16B), Ukraine ($4.06B), and South Africa ($4.06B).
In 2020, the countries that had a largest trade value in imports than in exports of Iron Ore were China ($97.6B), Japan ($8.24B), South Korea ($5.92B), Singapore ($2.23B), and Hong Kong ($1.91B).
In 2020, the world most traded Iron Ore, disaggragated by their HS6 level were Iron ore, concentrate, not iron pyrites,unagglomerate ($126B), Iron ore, concentrate, not iron pyrites,... ($15.3B), and Roasted iron pyrites ($35M)
This visualization shows the countries that have an important ratio of their trade related to Iron Ore. It is possible to select the main countries that export or import Iron Ore in the world, or by continent, as well as select the measure of interest.
The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.
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