Iron Ore Imports by Country

Date: 
January 25, 2021

 

Globally, purchases of imported iron ore totaled US144.5 billion in 2019. Overall, the value of iron ore imports for all importing countries increased by an average 58.1% since 2015 when iron ore purchases were valued at $91.4 billion. Year over year, the value of iron ore imports accelerated by 23.6% from 2018 to 2019.

 

From a continental perspective, Asian countries consumed the highest dollar worth of iron ore imported from foreign markets with purchases costing $126 billion or 87.2% of the worldwide total. In second place were importers in Europe at 10.5. Smaller percentages were attributed to buyers in North America (1.1%), Africa (0.6%), Latin America (0.5%) excluding Mexico but including the Caribbean, then Oceania (0.04%) led by Australia.

 

For research purposes, the 4-digit Harmonized Tariff System code prefix is 2601 for iron ores and concentrates including roasted iron pyrites.

 

Iron Ore Imports by Country

 

Below are the 15 countries that imported the highest dollar value worth of iron ore during 2019.

  1. China: US$99.8 billion (69.1% of imported iron ore)
  2. Japan: $10.9 billion (7.5%)
  3. South Korea: $6.9 billion (4.8%)
  4. Germany: $3.9 billion (2.7%)
  5. Netherlands: $2.9 billion (2%)
  6. Taiwan: $2.3 billion (1.6%)
  7. France: $1.5 billion (1%)
  8. Malaysia: $1.3 billion (0.9%)
  9. Turkey: $1.1 billion (0.8%)
  10. United States: $842.1 million (0.6%)
  11. Bahrain: $805 million (0.6%)
  12. Canada: $772.3 million (0.5%)
  13. Oman: $758.5 million (0.5%)
  14. United Kingdom: $757.9 million (0.5%)
  15. Belgium: $715.2 million (0.5%)

Among the above countries, the fastest-growing markets for iron ore since 2015 were: Malaysia (up 125%), Bahrain (up 118.4%), France (up 77.4%) and Oman (up 73.2%).

The listed 15 countries purchased 93.6% of all iron ore imported in 2019.

 

Iron Ore Imports into China

 

Below are the top 15 suppliers from which China imported the highest dollar value worth of iron ore during 2019. Within parenthesis is the percentage change in value for each supplying country.

  1. Australia: US$61 billion (up 69.5% from 2015)
  2. Brazil: $22.1 billion (up 81%)
  3. South Africa: $4.3 billion (up 38.6%)
  4. India: $2.2 billion (up 2,070%)
  5. Ukraine: $1.6 billion (up 3.2%)
  6. Peru: $1.4 billion (up 142.8%)
  7. Iran: $1.3 billion (up 82.4%)
  8. Canada: $1.2 billion (up 75.1%)
  9. Russia: $815.9 million (up 81.6%)
  10. Chile: $717.4 million (up 6%)
  11. Mauritania: $576.2 million (up 41.4%)
  12. Mongolia: $425.4 million (up 64.6%)
  13. Kazakhstan: $351.9 million (up 1,455%)
  14. United Arab Emirates: $323.4 million (up 761.7%)
  15. Malaysia: $223 million (up 140.2%)

The listed 15 countries shipped 98.7% of iron ore imported by China in 2019.

Among the above countries, the fastest-growing suppliers of iron ore to China since 2015 were: India (up 2,070%), Kazakhstan (up 1,455%), United Arab Emirates (up 761.7%) and Peru (up 142.8%).

Overall, the value of China’s imported iron ore increased by an average 72.5% from all supplying countries since 2015 when iron ore purchased cost $57.9 billion.

 

Iron Ore Imports into Japan

 

Below are the top 15 suppliers from which Japan imported the highest dollar value worth of iron ore during 2019. Within parenthesis is the percentage change in value for each supplying country.

  1. Australia: US$5.6 billion (up 8.4% from 2015)
  2. Brazil: $3 billion (up 8.1%)
  3. Canada: $849.6 million (up 179.1%)
  4. South Africa: $342.6 million (down -33.9%)
  5. United States: $229.6 million (up 3,581%)
  6. Ukraine: $218.8 million (up 133.2%)
  7. India: $185.7 million (up 184.3%)
  8. China: $162.3 million (up 207,940%)
  9. Mauritania: $112.9 million (no 2015 data)
  10. Peru: $55.6 million (up 84.1%)
  11. Chile: $15.9 million (down -88.2%)
  12. Sweden: $15.5 million (up 64,358%)
  13. Russia: $15.1 million (down -83.8%)
  14. New Zealand: $4.8 million (down -62.7%)
  15. Italy: $6,000 (no 2015 data)

The listed 15 countries shipped 100% of iron ore imported by Japan in 2019.

Among the above countries, the fastest-growing suppliers of iron ore to Japan since 2015 were: China (up 207,940%), Sweden (up 64,358%), United States (up 3,581%) and India (up 184.3%).

Four countries experienced declines in the value of their iron ore supplied to Japanese importers namely: Chile (down -88.2%), Russia (down -83.8%), New Zealand (down -62.7%) and South Africa (down -33.9%).

Overall, the value of Japan’s imported iron ore rose by an average 17.2% from all supplying countries since 2015 when iron ore purchased cost $9.3 billion.

 

Iron Ore Imports into South Korea

 

Below are the top 13 suppliers from which South Korea imported the highest dollar value worth of iron ore during 2019. Within parenthesis is the percentage change in value for each supplying country.

  1. Australia: US$4.7 billion (up 41.3% from 2015)
  2. Brazil: $1.1 billion (up 7.4%)
  3. South Africa: $595.8 million (up 68.6%)
  4. Canada: $338.1 million (up 151.6%)
  5. India: $134.9 million (up 458.5%)
  6. Ukraine: $103.6 million (up 1,131%)
  7. China: $10.1 million (up 1,176%)
  8. Malaysia: $3.5 million (up 116,200%)
  9. Netherlands: $38,000 (up 375%)
  10. Japan: $4,000 (down -50%)
  11. Sweden: $4,000 (down -33.3%)
  12. Indonesia: $1,000 (down -83.3%)
  13. Spain: $1,000 (down -83.3%)

The listed 15 countries shipped 100% of iron ore imported by South Korea in 2019.

Among the above countries, the fastest-growing suppliers of iron ore to South Korea since 2015 were: Malaysia (up 116,200%), China (up 1,176%), Ukraine (up 1,131%) and India (up 458.5%).

Countries that experienced declines in the value of their iron ore supplied to Korean importers were: Chile (down -100%), Austria (down -100%), Spain (down -83.3%) and Indonesia (also down -83.3%).

Overall, the value of South Korea’s imported iron ore expanded by an average 41.3% from all supplying countries since 2015 when iron ore purchased cost $4.9 billion.

 

Iron Ore Imports into Germany

 

Below are the top 15 suppliers from which Germany imported the highest dollar value worth of iron ore during 2019. Within parenthesis is the percentage change in value for each supplying country.

  1. Brazil: US$1.4 billion (down -10.4% from 2015)
  2. Canada: $917.8 million (up 87.6%)
  3. South Africa: $617.9 million (up 301.7%)
  4. Sweden: $440.8 million (up 17%)
  5. Russia: $217.1 million (up 874.9%)
  6. Ukraine: $150.5 million (up 49.1%)
  7. Mauritania: $84.2 million (down -9%)
  8. Australia: $66.3 million (up 1,175%)
  9. Liberia: $48.1 million (up 546.6%)
  10. Argentina: $11.1 million (up 10,057%)
  11. Venezuela: $6.8 million (up 2.5%)
  12. Mexico: $5 million (no 2015 data)
  13. Norway: $4.7 million (down -41.6%)
  14. Poland: $3.4 million (no 2015 data)
  15. Netherlands: $2.8 million (up 113.6%)

The listed 15 countries shipped 99.9% of iron ore imported by Germany in 2019.

Among the above countries, the fastest-growing suppliers of iron ore to Germany since 2015 were: Argentina (up 10,057%), Australia (up 1,175%), Russia (up 874.9%) and Liberia (up 546.6%).

Countries that experienced declines in the value of their iron ore supplied to German importers were: Norway (down -41.6%), Brazil (down -10.4%) and Mauritania (down -9%).

Overall, the value of Germany’s imported iron ore improved by an average 41.4% from all supplying countries since 2015 when iron ore purchased cost $2.8 billion.

 

Source: worldstopexports.com

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