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2023
Exports $34BWorld Rnk 2 / 127
Flag Rnk 3 / 1207
2023
Destination $1.58B China
2022 - 2023
FASTEST GROWING MARKET $1.58BChina
2023
PRODUCT COMPLEXITY IN Iron Ore-1.87Rnk 987 / 1025
2023
Imports $79.6MWorld Rnk 42 / 125
Flag Rnk 367 / 1200
2023
Origin $24.7M India
2022 - 2023
FASTEST GROWING ORIGIN $24.7MUnited States
2023
ECONOMIC COMPLEXITY of Brazil0.31Rnk 49 / 132

About

Exports In 2023, Brazil exported $34B in Iron Ore, making it the 2nd largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 3rd most exported product in Brazil. The main destination of Iron Ore exports from Brazil are: China ($20.6B), Japan ($2.2B), Malaysia ($1.72B), Bahrain ($1.22B), and Oman ($964M).

The fastest growing export markets for Iron Ore of Brazil between 2022 and 2023 were China ($1.58B), Malaysia ($364M), and Netherlands ($171M).

Imports In 2023, Brazil imported $79.6M in Iron Ore, becoming the 42nd largest importer of Iron Ore in the world. At the same year, Iron Ore was the 367th most imported product in Brazil. Brazil imports Iron Ore primarily from: India ($43.6M), United States ($35.5M), Bolivia ($353k), South Africa ($103k), and Netherlands ($5.13k).

The fastest growing import markets in Iron Ore for Brazil between 2022 and 2023 were United States ($24.7M), India ($7.11M), and South Africa ($103k).

Latest Trends

December 2024

About

Overview In December 2024 Brazil's Iron Ore exports accounted up to $2.2B and imports accounted up to $150, resulting in a positive trade balance of $2.2B. Between December 2023 and December 2024 the exports of Brazil's   Iron Ore have decreased by $-1.31B (-37.3%) from $3.51B to $2.2B, while imports decreased by $-1M (-100%) from $1M to $150.

Destinations In December 2024, Iron Ore were exported mostly to China ($1.36B), Malaysia ($133M), Japan ($114M), Oman ($80M), and Bahrain ($59.3M), and were imported mostly from Chile ($150).

Growth In December 2024, the decrease in Iron Ore's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-64.2M or -37.4%), Bahrain ($-37.8M or -46.2%), and Italy ($-21.6M or -96.2%). In December 2024, the decrease in Iron Ore's year-by-year imports was explained primarily by a decrease in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$-1.31B(-37.3%)
IMPORT GROWTH (November 2023 - December 2024)$-1M(-100%)
MAIN EXPORTER (December 2024)Pará$1.3B
MAIN DESTINATION (December 2024)China$1.36B

This section shows Iron Ore's exports and imports data at subnational level for Brazil. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Iron Ore over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$34B
IMPORTS (2023)$79.6M
NET TRADE (2023)$33.9B

In 2023, Brazil exported $34B in Iron Ore. The main destinations of Brazil exports on Iron Ore were China ($20.6B), Japan ($2.2B), Malaysia ($1.72B), Bahrain ($1.22B), and Oman ($964M).

In 2023, Brazil imported $79.6M in Iron Ore, mainly from India ($43.6M), United States ($35.5M), Bolivia ($353k), South Africa ($103k), and Netherlands ($5.13k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR Brazil WERE (2022 - 2023):
China$1.58B (8.31%)
Malaysia$364M (26.7%)
Netherlands$171M (30.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY Brazil WERE (2022 - 2023):
Vietnam-$541M (-88.6%)
Bahrain-$242M (-16.5%)
South Korea-$236M (-25.1%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Brazil's main exporting competitors in Iron Ore were:
Australia $85.4B
Canada $7.23B
In 2023, Brazil's main importing competitors in Iron Ore were:
China $112B
Japan $9.3B
South Korea $7.07B

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Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $254M
TOP IMPORT POTENTIALIndia+ $3.11M

Iron Ore’s highest export potential is Japan. With an export gap of $254M.   Iron Ore’s highest import potential is India with an import gap of $3.11M.

See methodology.

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