Overview This page contains the latest trade data of Iron Ore. In 2019, Iron Ore were the world's 21st most traded product, with a total trade of $124B. Between 2018 and 2019 the exports of Iron Ore grew by 30%, from $95.7B to $124B. Trade in Iron Ore represent 0.69% of total world trade.
Exports In 2019 the top exporters of Iron Ore were Australia ($67.5B), Brazil ($23B), South Africa ($6.73B), Canada ($5.07B), and Ukraine ($3.36B).
Imports In 2019 the top importers of Iron Ore were China ($83.1B), Japan ($8.99B), South Korea ($6.02B), Germany ($2.32B), and Malaysia ($2.24B).
Tariffs In 2018 the average tariff for Iron Ore was 1.88%, 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%), Bermuda (25%), Aruba (12%), Panama (10%), and Nepal (9.89%). The countries with the lowest tariffs are Angola (0%), Kenya (0%), Mauritius (0%), Rwanda (0%), and Tanzania (0%).
Ranking Iron Ore ranks 926th 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.