Iron Ore in United States | The Observatory of Economic Complexity

About

Exports In 2023, 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 185th most exported product in United States. The main destination of Iron Ore exports from United States are: Canada ($783M), Germany ($322M), China ($153M), Japan ($119M), and United Kingdom ($78.5M).

The fastest growing export markets for Iron Ore of United States between 2022 and 2023 were Germany ($193M), Canada ($69.1M), and United Kingdom ($36.5M).

Imports In 2023, United States imported $837M in Iron Ore, becoming the 18th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 417th most imported product in United States. United States imports Iron Ore primarily from: Brazil ($461M), Canada ($264M), Sweden ($75.4M), Chile ($21.7M), and Australia ($11.4M).

The fastest growing import markets in Iron Ore for United States between 2022 and 2023 were Australia ($4.22M), South Africa ($872k), and China ($29.2k).

COMPANIES In 2023, leading companies such as Electrolux (1) and Teknor Apex (1) were at the forefront of shipping Iron Ore to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United States' Iron Ore exports accounted up to $92.7M and imports accounted up to $61.3M, resulting in a positive trade balance of $31.4M. Between November 2023 and November 2024 the exports of United States' Iron Ore have increased by $35.5M (62.2%) from $57.1M to $92.7M, while imports decreased by $-1.65M (-2.62%) from $62.9M to $61.3M.

Destinations In November 2024, Iron Ore were exported mostly to Canada ($70.6M), China ($22M), Mexico ($78.9k), Ecuador ($14k), and United Kingdom ($7.93k), and were imported mostly from Brazil ($31.7M), Canada ($25.3M), Sweden ($4.17M), Netherlands ($55.3k), and Norway ($34.5k).

Growth In November 2024, the increase in Iron Ore's year-by-year exports was explained primarily by an increase in exports to Netherlands ($10.5M or 147%), Canada ($9.87M or 33%), and Costa Rica ($1.38k or 11.7%). In November 2024, the decrease in Iron Ore's year-by-year imports was explained primarily by a decrease in imports from Canada ($-20.3M or -58%), Brazil ($-19.8M or -30.2%), and Sweden ($-18M or -99.8%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (November 2023 - November 2024)$35.5M(62.2%)

IMPORT GROWTH (November 2023 - November 2024)$-1.65M(-2.62%)

MAIN EXPORTER (November 2024)Minnesota$68.2M

MAIN DESTINATION (November 2024)Canada$70.6M

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 (2023)$1.61B

IMPORTS (2023)$837M

NET TRADE (2023)$771M

In 2023, United States exported $1.61B in Iron Ore. The main destinations of United States exports on Iron Ore were Canada ($783M), Germany ($322M), China ($153M), Japan ($119M), and United Kingdom ($78.5M).

In 2023, United States imported $837M in Iron Ore, mainly from Brazil ($461M), Canada ($264M), Sweden ($75.4M), Chile ($21.7M), and Australia ($11.4M).

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