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2022
Exports $6.81BWorld Rnk 3 / 128
Flag Rnk 15 / 1210
2022
Destination $76.8M China
2021 - 2022
FASTEST GROWING MARKET $76.8MBelgium
2022
PRODUCT COMPLEXITY IN Iron Ore-1.79Rnk 980 / 1025
2022
Imports $729MWorld Rnk 20 / 130
Flag Rnk 156 / 1213
2022
Origin $805k United States
2021 - 2022
FASTEST GROWING ORIGIN $805kAustralia
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $6.81B in Iron Ore, making it the 3rd largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 15th most exported product in Canada. The main destination of Iron Ore exports from Canada are: China ($1.67B), Netherlands ($799M), Japan ($778M), South Korea ($620M), and France ($511M).

The fastest growing export markets for Iron Ore of Canada between 2021 and 2022 were Belgium ($76.8M), South Korea ($76M), and Qatar ($46.9M).

Imports In 2022, Canada imported $729M in Iron Ore, becoming the 20th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 156th most imported product in Canada. Canada imports Iron Ore primarily from: United States ($723M), Australia ($4.39M), Sweden ($1.85M), Gabon ($6.32k), and Canada ($5.06k).

The fastest growing import markets in Iron Ore for Canada between 2021 and 2022 were Australia ($805k), Gabon ($6.32k), and Canada ($5.06k).

Latest Trends

August 2024

About

Overview In August 2024 Canada's Iron Ore exports accounted up to C$898M and imports accounted up to C$113M, resulting in a positive trade balance of C$786M. Between August 2023 and August 2024 the exports of Canada's   Iron Ore have increased by C$45.5M (5.34%) from C$853M to C$898M, while imports decreased by C$-8.76M (-7.21%) from C$121M to C$113M.

Destinations In August 2024, Iron Ore were exported mostly to China (C$238M), Netherlands (C$186M), France (C$99.7M), Japan (C$75.6M), and Spain (C$57.2M), and were imported mostly from United States (C$111M), Australia (C$1.69M), China (C$1.06k), Turkey (C$149), and Cuba (C$100).

Growth In August 2024, the increase in Iron Ore's year-by-year exports was explained primarily by an increase in exports to China (C$141M or 151%), Japan (C$48.6M or 51.8%), and Germany (C$43.6M or 1.59k%). In August 2024, the decrease in Iron Ore's year-by-year imports was explained primarily by a decrease in imports from Pakistan (C$-25 or -96.2%) and Spain (C$-13 or -92.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)C$45.5M(5.34%)
IMPORT GROWTH (August 2023 - August 2024)C$-8.76M(-7.21%)
MAIN EXPORTER (August 2024)QuebecC$555M
MAIN DESTINATION (August 2024)ChinaC$238M

This section shows Iron Ore's exports and imports data at subnational level for Canada. 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 (2022)$6.81B
IMPORTS (2022)$729M
NET TRADE (2022)$6.08B

In 2022, Canada exported $6.81B in Iron Ore. The main destinations of Canada exports on Iron Ore were China ($1.67B), Netherlands ($799M), Japan ($778M), South Korea ($620M), and France ($511M).

In 2022, Canada imported $729M in Iron Ore, mainly from United States ($723M), Australia ($4.39M), Sweden ($1.85M), Gabon ($6.32k), and Canada ($5.06k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR Canada WERE (2021 - 2022):
Belgium$76.8M (40%)
South Korea$76M (14%)
Qatar$46.9M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY Canada WERE (2021 - 2022):
China-$492M (-22.8%)
Germany-$472M (-49.9%)
Japan-$313M (-28.7%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Iron Ore were:
Australia $87.9B
Brazil $30.1B
In 2022, Canada's main importing competitors in Iron Ore were:
China $103B
Japan $11.3B
South Korea $7.58B

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Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $662M
TOP IMPORT POTENTIALAustralia+ $13.1M

Iron Ore’s highest export potential is China. With an export gap of $662M.   Iron Ore’s highest import potential is Australia with an import gap of $13.1M.

See methodology.

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