Iron Ore2601 (Harmonized System 1992 for 4-digit)
World Trade (2018): $95.1B, Rnk 23 / 1225
Top Exporter (2018): $48.1B, Australia
Top Importer (2018): $59.2B, China
Product Complexity (2018): -1.84, Rnk 985 / 1018
Export Growth (CAGR)(2017 - 2018): 2.34%, Rnk 1028 / 1225
Mean Tariff (2018): 1.88%, Rnk 1246 / 1259
Share of World Trade (2018): 0.52%, Rnk 23 / 1225
Overview: This page contains the latest trade data of Iron Ore. In 2018, Iron Ore were the world's 23rd most traded product, with a total trade of $95.1B. Between 2017 and 2018 the exports of Iron Ore grew by 2.34%, from $93B to $95.1B. Trade in Iron Ore represent 0.52% of total world trade.
Exports: In 2018 the top exporters of Iron Ore were Australia ($48.1B), Brazil ($20.5B), South Africa ($4.7B), Canada ($4.2B), and Ukraine ($2.89B).
Imports: In 2018 the top importers of Iron Ore were China ($59.2B), Japan ($7.18B), South Korea ($4.61B), Netherlands ($2.03B), and Germany ($1.66B).
Tariffs: In 2018 the average tariff for Iron Ore was 1.88%, been the 1246 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 985th in the Product Complexity Index (PCI).
Trade By Country
Iron Ore are the world's 23rd most traded product.
In 2018, the top exporters of Iron Ore were Australia ($48.1B), Brazil ($20.5B), South Africa ($4.7B), Canada ($4.2B), and Ukraine ($2.89B).
In 2018, the top importers of Iron Ore were China ($59.2B), Japan ($7.18B), South Korea ($4.61B), Netherlands ($2.03B), and Germany ($1.66B).
Trade by country
Between 2017 and 2018, the exports of Iron Ore grew the fastest in Bahrain ($794M), South Africa ($681M), China ($449M), Brazil ($326M), and Canada ($312M).
Between 2017 and 2018, the fastest growing importers of Iron Ore were Vietnam ($324M), India ($294M), Ukraine ($286M), Bahrain ($264M), and Egypt ($217M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Iron Ore.
In 2018, market concentration measured using Shannon Entropy, was 2.6. This means that most of the exports of Iron Ore are explained by 6 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 2018.
In 2018, the countries that had a largest trade value in exports than in imports of Iron Ore were Australia ($48.1B), Brazil ($20.5B), South Africa ($4.65B), Canada ($3.43B), and Ukraine ($2.45B).
In 2018, the countries that had a largest trade value in imports than in exports of Iron Ore were China ($58.7B), Japan ($7.18B), South Korea ($4.61B), Netherlands ($2.01B), and Germany ($1.65B).
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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