Iron Ore in United States | The Observatory of Economic Complexity

About

Exports In 2022, United States exported $1.61B in Iron Ore, making it the 12th largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 194th most exported product in United States. The main destination of Iron Ore exports from United States are: Canada ($723M), China ($209M), Germany ($129M), Trinidad and Tobago ($120M), and Japan ($75.5M).

The fastest growing export markets for Iron Ore of United States between 2021 and 2022 were Germany ($64.5M), Finland ($52.6M), and Netherlands ($33.2M).

Imports In 2022, United States imported $997M in Iron Ore, becoming the 16th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 400th most imported product in United States. United States imports Iron Ore primarily from: Brazil ($457M), Canada ($330M), Sweden ($152M), Chile ($21.7M), and Bahrain ($17.2M).

The fastest growing import markets in Iron Ore for United States between 2021 and 2022 were Canada ($26.9M), North Macedonia ($5.1M), and Netherlands ($2.28M).

COMPANIES In 2023, leading companies such as ELECTROLUX HOME PRODUCTS, INC. (28) were at the forefront of shipping Iron Ore to the United States.

Latest Trends

January 2024

About

Overview In January 2024 United States' Iron Ore exports accounted up to $57.6M and imports accounted up to $70.9M, resulting in a negative trade balance of $13.4M. Between January 2023 and January 2024 the exports of United States' Iron Ore have decreased by $-11M (-16%) from $68.5M to $57.6M, while imports increased by $4.7M (7.1%) from $66.2M to $70.9M.

Destinations In January 2024, Iron Ore were exported mostly to Canada ($46.8M), China ($8.6M), United Kingdom ($1.75M), Brazil ($295k), and Mexico ($163k), and were imported mostly from Canada ($31.2M), Brazil ($27.2M), Sweden ($12.4M), Netherlands ($68k), and Norway ($33.2k).

Growth In January 2024, the decrease in Iron Ore's year-by-year exports was explained primarily by a decrease in exports to Mexico ($-1.23M or -84.2%), China ($-504k or -5.81%), and Ecuador ($-3.66k or -29.3%). In January 2024, the increase in Iron Ore's year-by-year imports was explained primarily by an increase in imports from Netherlands ($17.2k or 56.2%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)$-11M(-16%)

IMPORT GROWTH (January 2023 - January 2024)$4.7M(7.1%)

MAIN EXPORTER (January 2024)Minnesota$23.9M

MAIN DESTINATION (January 2024)Canada$46.8M

This section shows Iron Ore's exports and imports data at subnational level for United States. 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

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$1.61B

IMPORTS (2022)$997M

NET TRADE (2022)$614M

In 2022, United States exported $1.61B in Iron Ore. The main destinations of United States exports on Iron Ore were Canada ($723M), China ($209M), Germany ($129M), Trinidad and Tobago ($120M), and Japan ($75.5M).

In 2022, United States imported $997M in Iron Ore, mainly from Brazil ($457M), Canada ($330M), Sweden ($152M), Chile ($21.7M), and Bahrain ($17.2M).

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