2022
Exports
$1.42BWorld Rnk 15 / 128
Flag Rnk 28 / 1200
2022
PRODUCT COMPLEXITY IN Iron Ore
-1.79Rnk 980 / 1025
2022
Imports
$256MWorld Rnk 36 / 130
Flag Rnk 191 / 1201
2022
ECONOMIC COMPLEXITY of Russia
0.43Rnk 47 / 133

About

Exports In 2022, Russia exported $1.42B in Iron Ore, making it the 15th largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 28th most exported product in Russia. The main destination of Iron Ore exports from Russia are: China ($869M), Germany ($201M), Turkey ($70.1M), Slovakia ($64.5M), and Serbia ($43.4M).

The fastest growing export markets for Iron Ore of Russia between 2021 and 2022 were South Korea ($13.6M), Tajikistan ($532k), and Latvia ($451k).

Imports In 2022, Russia imported $256M in Iron Ore, becoming the 36th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 191st most imported product in Russia. Russia imports Iron Ore primarily from: Kazakhstan ($256M), Turkey ($83.5k), Germany ($29.5k), South Africa ($18k), and Poland ($15.1k).

The fastest growing import markets in Iron Ore for Russia between 2021 and 2022 were Turkey ($72.3k), Germany ($25.9k), and Poland ($15.1k).

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron Ore. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.42B
IMPORTS (2022)$256M
NET TRADE (2022)$1.16B

In 2022, Russia exported $1.42B in Iron Ore. The main destinations of Russia exports on Iron Ore were China ($869M), Germany ($201M), Turkey ($70.1M), Slovakia ($64.5M), and Serbia ($43.4M).

In 2022, Russia imported $256M in Iron Ore, mainly from Kazakhstan ($256M), Turkey ($83.5k), Germany ($29.5k), South Africa ($18k), and Poland ($15.1k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR Russia WERE (2021 - 2022):
South Korea$13.6M (1%)
Tajikistan$532k (73%)
Latvia$451k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY Russia WERE (2021 - 2022):
China-$360M (-29.3%)
Slovakia-$311M (-82.8%)
France-$305M (-93.8%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Russia's main exporting competitors in Iron Ore were:
Brazil $30.1B
Canada $6.81B
In 2022, Russia's main importing competitors in Iron Ore were:

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Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $798M
TOP IMPORT POTENTIALTurkey+ $399k

Iron Ore’s highest export potential is China. With an export gap of $798M.   Iron Ore’s highest import potential is Turkey with an import gap of $399k.

See methodology.

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