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.