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Who buys Brazil’s iron ore? Export destinations 2024

In 2024, Brazil exported $34.9 billion of iron ore (405.9 million tonnes), 20.8% of the world total. China bought 60% of the total, followed by Japan (7%) and Malaysia (5%). Brazil was the world’s 2nd-largest exporter of iron ore.

Summary

Value
$34.9billion
Tonnes
405.9million tonnes
Share of world total
20.8%
World rank
2nd
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 20 main destinations in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
China21.1Tonnes: 276,396,950USD per tonne: $7660.4%Sea
Japan2.5Tonnes: 21,641,149USD per tonne: $1177.3%Sea
Malaysia1.6Tonnes: 20,231,223USD per tonne: $794.6%Sea
Bahrain1.1Tonnes: 9,829,012USD per tonne: $1173.3%Sea
South Korea1Tonnes: 8,216,310USD per tonne: $1263%Sea
Oman0.95Tonnes: 12,408,821USD per tonne: $772.7%Sea
Netherlands re-exports0.82Tonnes: 8,531,819USD per tonne: $962.4%Sea
Egypt0.58Tonnes: 4,592,755USD per tonne: $1271.7%Sea
Philippines0.56Tonnes: 5,409,777USD per tonne: $1041.6%Sea
Argentina0.56Tonnes: 3,836,118USD per tonne: $1451.6%Sea
Turkey0.49Tonnes: 5,080,128USD per tonne: $971.4%Sea
Taiwan0.49Tonnes: 4,409,824USD per tonne: $1111.4%Sea
Germany0.44Tonnes: 3,279,687USD per tonne: $1351.3%Sea
United States0.43Tonnes: 2,766,199USD per tonne: $1541.2%Sea
Trinidad and Tobago0.28Tonnes: 1,659,740USD per tonne: $1710.81%Sea
Libya0.26Tonnes: 2,157,505USD per tonne: $1220.76%Sea
Mexico0.23Tonnes: 2,413,288USD per tonne: $950.65%Sea
Algeria0.23Tonnes: 2,135,751USD per tonne: $1060.65%Sea
Indonesia0.21Tonnes: 1,850,444USD per tonne: $1120.6%Sea
France0.18Tonnes: 1,662,896USD per tonne: $1060.51%Sea

Trend

Who it sells to

China has been its main destination since 2002

Value in USD billions. The five largest destinations in 2024.

  • China 21.1
  • Japan 2.5
  • Malaysia 1.6
  • Bahrain 1.1
  • South Korea 1

Source: CEPII BACI

Show the numbers
Partner19952024
China0.1721.1
Japan0.632.5
Malaysia0.041.6
Bahrain0.041.1
South Korea0.191

Sources and methodology

Other products of this country

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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