Iron ore trade by country: top importers, exporters and prices
World trade in iron ore was worth $162.28 billion in 2024, about 1,705.66 million tonnes. That is an increase of 60% since 2017, and down 5% on 2023.
Public statistics, latest complete year (2024). Values in US dollars. Page updated .
World trade by year, 2017-2024
Hover or tap a year for detail.
Year by year
| Year | Value | Quantity |
|---|---|---|
| 2024 | $162.28B | 1705.66M t |
| 2023 | $171.44B | 1670.59M t |
| 2022 | $169.94B | 1607.20M t |
| 2021 | $228.25B | 1643.16M t |
| 2020 | $149.87B | 1659.98M t |
| 2019 | $135.85B | 1602.65M t |
| 2018 | $102.90B | 1608.45M t |
| 2017 | $101.11B | 1572.05M t |
Top iron ore exporting countries
Exports are led by Australia (54%), Brazil (21%) and Canada (4%). 130 countries reported exports, and the top three account for 79%.
| Exporter | Value | Share |
|---|---|---|
| Australia | $87.50B | 54% |
| Brazil | $33.70B | 21% |
| Canada | $6.73B | 4.2% |
| South Africa | $6.69B | 4.1% |
| India | $3.02B | 1.9% |
| Ukraine | $2.88B | 1.8% |
| Sweden | $2.61B | 1.6% |
| Oman | $1.78B | 1.1% |
| Peru | $1.78B | 1.1% |
| Bahrain | $1.68B | 1% |
| Chile | $1.59B | 1% |
| Mauritania | $1.52B | 0.9% |
Top importing countries and buyer markets
The largest importers are China (70%), Japan (7%) and South Korea (5%). 123 countries imported it, and the top three take 81% of the value.
Average price per kg
The world average declared value was about $0.10 per kg in 2024. Among the main exporters, Sweden averaged $0.13 per kg and Brazil $0.08 per kg, so grade and origin matter.
Declared value divided by weight, all 2024 shipments worldwide. Prices per shipment and per company are in EximDataX.
Who is behind these numbers in this market?
Public statistics stop at country totals and the last published year. EximDataX shows the shipment records underneath: the companies, dates, quantities and declared values, updated weekly.
Shipment records are in the platform
Tell us what you trade and we will show you the latest records on a live call.
Source: CEPII BACI (reconciled UN Comtrade data), HS 2017 edition, release 202601, Etalab Open Licence 2.0. Annual values in US dollars at the customs border; quantities in tonnes where reported. HS 2601: Iron ores and concentrates; including roasted iron pyrites. HS 2601 codes.
Common questions
Which countries export the most iron ore?
Australia exported $87.50 billion in 2024, 54% of the world total, followed by Brazil (21%) and Canada (4%). In all, 130 countries reported exports of this product. The full ranking and map are on this page.
Which countries import the most iron ore?
China imported $112.98 billion in 2024, 70% of world imports, ahead of Japan (7%) and South Korea (5%). The top three importers together take 81%. Each country with its own page is linked from the table.
How big is the world trade in iron ore?
It was worth $162.28 billion in 2024, about 1,705.66 million tonnes. That is an increase of 60% since 2017. The peak year was 2021 at $228.25 billion. 130 countries reported exports and 123 reported imports.
What is the average price of iron ore per kg?
The world average declared value was about $0.10 per kg in 2024. Among the main exporters, Sweden averaged $0.13 per kg and Brazil $0.08 per kg, so grade and origin matter. It is total declared value divided by total weight, so treat it as a benchmark, not a quote.
What is the HS code for iron ore?
The HS code for iron ore is heading 2601, in chapter 26 (ores, slag and ash). Customs uses this code worldwide at the six-digit level; national tariffs add more digits. The full list of codes is on the HS 2601 page.
How can I find iron ore buyers and suppliers?
Public statistics stop at country totals. EximDataX shows the importers and exporters behind this trade from shipment-level customs records, updated weekly, with direct customs feeds and mirror data. Tell us your product and we will show you the latest records on a live call.
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