The biggest 5 spenders on imported iron ore are mainland China, Japan, South Korea, Germany and Taiwan. Combined, that quintet of major iron ore importers were responsible for 86.7% of the world’s total purchases of imported iron ore during 2021.
From a continental perspective, Asian countries bought the highest dollar worth of iron ore imported from foreign markets with purchases costing a total $220.6 billion or 89% of the worldwide total. In second place were iron ore importers in Europe at 8.7%.
Tinier percentages were attributed to buyers in North America (0.83%), Africa (0.8%), Latin America (0.6%) excluding Mexico but including the Caribbean, then Australia and New Zealand only in Oceania (0.05%).
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 2021.
- China: US$173.6 billion (70.1% of total imported iron ore)
- Japan: $18 billion (7.3%)
- South Korea: $12.1 billion (4.9%)
- Germany: $6.9 billion (2.8%)
- Taiwan: $4.2 billion (1.7%)
- France: $2.4 billion (1%)
- Bahrain: $2.2 billion (0.9%)
- Turkey: $2.05 billion (0.8%)
- Vietnam: $2.03 billion (0.8%)
- Malaysia: $1.6 billion (0.6%)
- Indonesia: $1.54 billion (0.6%)
- Netherlands: $1.5 billion (0.6%)
- Oman: $1.4 billion (0.6%)
- United Kingdom: $1.38 billion (0.6%)
- Russia: $1.2 billion (0.5%)
By value, the listed 15 countries purchased 93.7% of all iron ore imported in 2021.
Among the above countries, the fastest-growing markets for iron ore from 2020 to 2021 were: Bahrain (up 184.8%), Indonesia (up 126.4%), France (up 98.9%) and Turkey (up 94.7%).
The mildest increase year over year in their imported iron ore purchases was posted by Vietnam via its 36.1% uptick.
Iron Ore Imported into China
Below are the top 15 suppliers from which China imported the highest dollar value worth of iron ore during 2021. Within parenthesis is the percentage change in value for each supplying country.
- Australia: US$105.7 billion (up 49.2% from 2020)
- Brazil: $37.1 billion (up 44.4%)
- South Africa: $7 billion (up 43.8%)
- India: $4.6 billion (up 15.7%)
- Ukraine: $3.5 billion (up 15.9%)
- Peru: $3 billion (up 98.3%)
- Canada: $2.8 billion (up 36.9%)
- Chile: $2.4 billion (up 55.7%)
- Russia: $1.4 billion (up 6.4%)
- Mauritania: $1.3 billion (up 47.6%)
- Mongolia: $603.8 million (up 34.3%)
- Kazakhstan: $514.3 million (down -6.4%)
- Iran: $396.9 million (up 46.6%)
- Venezuela: $384.9 million (up 323.2%)
- Malaysia: $378 million (up 32.5%)
By value, the listed 15 countries shipped 98.6% of iron ore imported by China in 2021.
Among the above countries, the fastest-growing suppliers of iron ore to China from 2020 to 2021 were: Venezuela (up 323.2%), Peru (up 98.3%), Chile (up 55.7%) and Australia (up 49.2%).
Kazakhstan was the lone top country to experience a decline in the value of iron ore supplied to Chinese importers included: Kazakhstan (down -6.4% from 2020).
Overall, the value of China’s imported iron ore rose by an average 46% from all supplying countries since 2020 when iron ore purchased cost $118.9 billion.
Iron Ore Imported into Japan
Below are the top 13 suppliers from which Japan imported the highest dollar value worth of iron ore during 2021. Within parenthesis is the percentage change in value for each supplying country.
- Australia: US$10 billion (up 99% from 2020)
- Brazil: $5.1 billion (up 77.3%)
- Canada: $1.3 billion (up 82.9%)
- South Africa: $656.4 million (up 89.9%)
- United States of America: $252.5 million (up 49%)
- Ukraine: $236.2 million (up 403.2%)
- Mauritania: $176.9 million (up 167%)
- India: $116.6 million (down -40.4%)
- Peru: $110.9 million (up 65.3%)
- Chile: $69 million (up 88.9%)
- Russia: $49.7 million (down -25.6%)
- New Zealand: $7.4 million (up 56.5%)
- China: $8,000 (down -100%)
By value, the listed 13 countries shipped 100% of iron ore imported by Japan in 2021.
Among the above countries, the fastest-growing suppliers of iron ore to Japan from 2020 to 2021 were: Ukraine (up 403.2%), Mauritania (up 167.0%), Australia (up 99%) and South Africa (up 89.9%).
Year over year, the iron ore suppliers experiencing declines in their sales to Japan were mainland China (down -100% from 2020), India (down -40.4%) and Russia (down -25.6%).
Overall, the value of Japan’s imported iron ore increased by an average 86.9% from all supplying countries since 2020 when iron ore purchased cost $9.6 billion.
Iron Ore Imported into South Korea
Below are the top suppliers from which South Korea imported the highest dollar value worth of iron ore during 2021. Within parenthesis is the percentage change in value for each supplying country.
- Australia: US$8.5 billion (up 71.1% from 2020)
- Brazil: $1.5 billion (up 60.2%)
- South Africa: $924.6 million (up 77.4%)
- Canada: $676.5 million (up 94.6%)
- India: $187.5 million (up 216.3%)
- Chile: $118.6 million (up 455.6%)
- Bahrain: $84.5 million (2020 data unavailable)
- Ukraine: $12.3 million (up 14%)
- China: $9.9 million (down -63.6%)
- Netherlands: $40,000 (up 25%)
- Uruguay: $8,000 (up 166.7%)
- Sweden: $5,000 (down -37.5%)
- United States of America: $3,000 (2020 data unavailable)
- Germany: $1,000 (2020 data unavailable)
- Japan: $1,000 (2020 data unavailable)
By value, the listed 15 countries shipped 99.9998% of iron ore imported by South Korea in 2021.
Among the above countries, the fastest-growing suppliers of iron ore to South Korea from 2020 to 2021 were: Chile (up 455.6%), India (up 216.3%), Uruguay (up 166.7%) and Canada (up 94.6%).
Countries that recorded declines in the value of their iron ore supplied to Korean importers were mainland China (down -63.6%) and Sweden (down -37.5%).
Overall, the value of South Korea’s imported iron ore increased by an average 74.3% from all supplying countries since 2020 when iron ore purchased cost $6.9 billion.
Iron Ore Imported into Germany
Below are the top 15 suppliers from which Germany imported the highest dollar value worth of iron ore during 2021. Within parenthesis is the percentage change in value for each supplying country.
- South Africa: US$1.8 billion (up 210.8% from 2020)
- Canada: $1.7 billion (up 54.1%)
- Brazil: $1.1 billion (up 34.5%)
- Sweden: $949.1 million (up 106.9%)
- Russia: $719.9 million (up 118.9%)
- Ukraine: $270.5 million (up 114.3%)
- Mauritania: $129.1 million (down -3.7%)
- Liberia: $109 million (up 33.8%)
- United States of America: $58.8 million (up 1,420%)
- Norway: $22.8 million (up 393.3%)
- Australia: $13.3 million (up 81.4%)
- Mexico: $13.1 million (up 247.8%)
- Morocco: $8.7 million (2020 data unavailable)
- Argentina: $2.7 million (2020 data unavailable)
- Netherlands: $2 million (up 62.5%)
By value, the listed 15 countries shipped 99.95% of iron ore imported by Germany in 2021.
Among the above countries, the fastest-growing suppliers of iron ore to Germany from 2020 to 2021 were: United States of America (up 1,420%), Norway (up 393.3%), Mexico (up 247.8%) and South Africa (up 210.8%).
The lone top country that recorded a decline in the value of iron ore supplied to German importers was Mauritania (down -3.7%).
Overall, the value of Germany’s imported iron ore rose by an average 89% from all supplying countries since 2020 when iron ore purchased cost $3.7 billion.
Searchable List of Iron Ore Importing Countries in 2021
The top 100 buyers of imported iron ore in the automated database below accounted for 99.99998% of globally imported iron ore during 2021.
| Rank | Importer | Iron Ore Imports (US$) | 2020-1 |
|---|---|---|---|
| 1. | China | $173,599,744,000 | +46% |
| 2. | Japan | $17,988,182,000 | +86.9% |
| 3. | South Korea | $12,078,943,000 | +74.3% |
| 4. | Germany | $6,946,043,000 | +89% |
| 5. | Taiwan | $4,172,145,000 | +92% |
| 6. | France | $2,395,888,000 | +98.9% |
| 7. | Bahrain | $2,232,075,000 | +184.8% |
| 8. | Turkey | $2,046,136,000 | +94.7% |
| 9. | Vietnam | $2,034,780,000 | +36.1% |
| 10. | Malaysia | $1,599,040,000 | +37.4% |
| 11. | Indonesia | $1,543,911,000 | +126.4% |
| 12. | Netherlands | $1,496,962,000 | +79.9% |
| 13. | Oman | $1,401,720,000 | +57.1% |
| 14. | United Kingdom | $1,378,952,000 | +91% |
| 15. | Russia | $1,218,334,000 | +87.7% |
| 16. | United States | $1,191,572,000 | +76.4% |
| 17. | Italy | $1,189,852,000 | +107% |
| 18. | Egypt | $1,164,294,000 | +58.6% |
| 19. | Belgium | $1,085,461,000 | +78.2% |
| 20. | Czech Republic | $1,051,709,000 | +83.4% |
| 21. | Argentina | $1,050,593,000 | +209.7% |
| 22. | Spain | $1,038,033,000 | +172.3% |
| 23. | Slovakia | $1,008,664,000 | +147.9% |
| 24. | Philippines | $874,038,000 | +93.1% |
| 25. | Poland | $829,496,000 | +64.1% |
| 26. | Finland | $775,645,000 | +146.5% |
| 27. | Canada | $775,365,000 | +31% |
| 28. | Algeria | $682,356,000 | +92.3% |
| 29. | Romania | $551,592,000 | +125.5% |
| 30. | India | $371,955,000 | +239.6% |
| 31. | United Arab Emirates | $351,649,000 | -48.2% |
| 32. | Serbia | $335,366,000 | +117.7% |
| 33. | Trinidad /Tobago | $329,054,000 | +17% |
| 34. | Qatar | $261,100,000 | +158.8% |
| 35. | Hungary | $145,768,000 | +13.5% |
| 36. | Australia | $128,766,000 | +95.8% |
| 37. | Libya | $102,860,000 | +265.9% |
| 38. | Mexico | $85,593,000 | -45.3% |
| 39. | Chile | $66,339,000 | +289.5% |
| 40. | Brazil | $62,132,000 | +223.7% |
| 41. | Mozambique | $15,875,000 | +48.5% |
| 42. | Norway | $11,932,000 | +78.9% |
| 43. | Sweden | $5,672,000 | +0.2% |
| 44. | Iceland | $4,569,000 | +123.1% |
| 45. | Belarus | $4,207,000 | -9% |
| 46. | Panama | $3,925,000 | 0% |
| 47. | Kenya | $3,916,000 | 0% |
| 48. | Denmark | $3,823,000 | +271.5% |
| 49. | Nepal | $3,814,000 | -14.7% |
| 50. | Bosnia/Herzegovina | $3,748,000 | +5945% |
| 51. | Iraq | $2,919,000 | -89.9% |
| 52. | Bangladesh | $2,269,000 | -33.5% |
| 53. | Kyrgyzstan | $1,885,000 | +9.9% |
| 54. | Democr. Rep. Congo | $1,834,000 | +45750% |
| 55. | Tajikistan | $1,570,000 | +62.9% |
| 56. | Hong Kong | $1,538,000 | +38350% |
| 57. | Uruguay | $1,306,000 | 0% |
| 58. | Armenia | $1,288,000 | +14.3% |
| 59. | Switzerland | $1,177,000 | -22.5% |
| 60. | Saudi Arabia | $1,036,000 | +248.8% |
| 61. | Bulgaria | $728,000 | +96.8% |
| 62. | Angola | $681,000 | 0% |
| 63. | Thailand | $632,000 | +216% |
| 64. | Portugal | $509,000 | -54.1% |
| 65. | Jordan | $467,000 | -19.6% |
| 66. | Botswana | $456,000 | +118.2% |
| 67. | New Zealand | $317,000 | +301.3% |
| 68. | Tunisia | $289,000 | +33.8% |
| 69. | Kazakhstan | $274,000 | +448% |
| 70. | Barbados | $213,000 | 0% |
| 71. | Slovenia | $198,000 | +115.2% |
| 72. | Montenegro | $183,000 | 0% |
| 73. | Moldova | $156,000 | -43.3% |
| 74. | Estonia | $148,000 | +35.8% |
| 75. | Mongolia | $131,000 | +1771% |
| 76. | Ukraine | $124,000 | +65.3% |
| 77. | Costa Rica | $120,000 | 0% |
| 78. | Ireland | $119,000 | -87.8% |
| 79. | Iran | $114,000 | 0% |
| 80. | Croatia | $95,000 | -12% |
| 81. | Guatemala | $72,000 | +7100% |
| 82. | Pakistan | $68,000 | +580% |
| 83. | Georgia | $67,000 | -65.1% |
| 84. | Colombia | $62,000 | +675% |
| 85. | South Africa | $62,000 | +138.5% |
| 86. | Uzbekistan | $61,000 | -1.6% |
| 87. | Zambia | $53,000 | +562.5% |
| 88. | Nigeria | $51,000 | 0% |
| 89. | Greece | $51,000 | -12.1% |
| 90. | Zimbabwe | $49,000 | 0% |
| 91. | Ethiopia | $48,000 | 0% |
| 92. | Turkmenistan | $40,000 | -64.9% |
| 93. | Laos | $36,000 | -79.4% |
| 94. | El Salvador | $27,000 | +22.7% |
| 95. | Cyprus | $27,000 | +3.8% |
| 96. | Israel | $26,000 | +116.7% |
| 97. | Dominican Republic | $25,000 | 0% |
| 98. | Peru | $25,000 | -26.5% |
| 99. | Morocco | $20,000 | +81.8% |
| 100. | Tanzania | $17,000 | 0% |
Expanding the scope to the above 100 importers, the greatest gainers from 2020 to 2021 were the Democratic Republic of the Congo (up 45,750%), Hong Kong (up 38,350%), Guatemala (up 7,100%), Bosnia and Herzegovina (up 5,945%), Mongolia (up 1,771%), Colombia (up 675%) and Pakistan (up 580%).
Note: You can change the presentation order by clicking the triangle icon at the top of any of the columns below. An entry of 0% in the right-most column means no 2020 data was available.
Top Iron Ore Importers Ranked by Shipment Weight
Worldwide imports of iron ore totaled 1.516 billion tons in 2021, down by -9.5% over the 5-year period starting in 2017.
The shipment weight of imported iron ore fell by -46.9% from 2.854 billion tons during 2020.
- China: 1,038,685,477 tons of imported iron ore (down -11.2% from 2020)
- Japan: 113,073,903 tons (up 13.7%)
- South Korea: 74,191,428 tons (up 5.4%)
- Germany: 39,294,518 tons (up 17.1%)
- Taiwan: 24,867,819 tons (up 17.2%)
- Malaysia: 22,319,479 tons (up 16.5%)
- Vietnam: 18,734,021 tons (up 21.2%)
- Bahrain: 14,396,751 tons (up 99.7%)
- France: 13,922,921 tons (up 24.5%)
- Turkey: 11,263,311 tons (up 14.1%)
- Oman: 10,587,280 tons (up 5.5%)
- Indonesia: 10,004,154 tons (up 45.5%)
- Russia: 9,453,267 tons (up 17.5%)
- Netherlands: 8,820,192 tons (up 4.3%)
- Canada: 8,006,953 tons (up 13.0%)
By shipment weight for iron ore, the greatest gainers from 2020 to 2021 were Bahrain (up 99.7%), Indonesia (up 45.5%), France (up 24.5%), Vietnam (up 21.2%) then Russia (up 17.5%).
The one big decliner was mainland China, which also ranks as the world’s biggest importer of iron ore accounting for over three-quarters (68.5%) of globally imported iron ore during 2021. China’s imports of iron ore by shipment weight slowed by -11.2% compared to 2020.
Average Prices for Iron Ore by Major Import Country
In 2021, the world’s overall average unit price paid for imported iron ore was US$163.40 per ton.
That average price per ton is 138.4% higher than the average $68.5 in 2017. From 2020 to 2021, the inflation rate for globally imported iron ore accelerated to 192.5%.
Listed below are the average unit prices paid by the 15 top spenders on imported iron ore during 2021.
- China: US$167 per ton of iron ore imports (up 63.7% from 2020)
- Japan: $159 per ton (up 63.9%)
- South Korea: $163 per ton (up 66.3%)
- Germany: $177 per ton (up 60.9%)
- Taiwan: $168 per ton (up 64.7%)
- France: $172 per ton (up 59.3%)
- Bahrain: $155 per ton (up 42.2%)
- Turkey: $182 per ton (up 71.7%)
- Vietnam: $109 per ton (up 12.4%)
- Malaysia: $72 per ton (up 18%)
- Indonesia: $154 per ton (up 55.6%)
- Netherlands: $170 per ton (up 73.5%)
- Oman: $132 per ton (up 48.3%)
- United Kingdom: $153 per ton (up 91%)
- Russia: $129 per ton (up 59.3%)
The lowest average unit prices per ton were collected from importers in Oman, Russia, Vietnam and Malaysia.
Highest average prices that also exceeded the global average of $163.40 per ton were paid by importers in Turkey, Germany, France, Netherlands, Taiwan and the world’s leading importers of iron ore mainland China.
See also Iron Ore Exports by Country, Top Tin Exporters, Copper Ore Exports by Country and China’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Imports – Commodities. Accessed on June 8, 2022
International Trade Centre, Trade Map. Accessed on June 8, 2022