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Who buys Canada’s iron ore? Export destinations 2024

In 2024, Canada exported $7.3 billion of iron ore (62.3 million tonnes), 4.4% of the world total. Its main destinations were China (25%), Germany (15%) and Japan (12%). Canada was the world’s 3rd-largest exporter of iron ore.

Summary

Value
$7.3billion
Tonnes
62.3million tonnes
Share of world total
4.4%
World rank
3rd
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
China1.8Tonnes: 16,542,518USD per tonne: $11024.7%Sea
Germany1.1Tonnes: 7,803,543USD per tonne: $14215.1%Sea
Japan0.88Tonnes: 7,160,777USD per tonne: $12211.9%Sea
Netherlands re-exports0.7Tonnes: 6,757,273USD per tonne: $1049.6%Sea
France0.58Tonnes: 5,095,717USD per tonne: $1137.9%Sea
South Korea0.43Tonnes: 4,083,144USD per tonne: $1045.8%Sea
United States0.3Tonnes: 1,819,780USD per tonne: $1634%Sea
Belgium re-exports0.29Tonnes: 2,868,786USD per tonne: $1003.9%Sea
Spain0.28Tonnes: 2,839,369USD per tonne: $993.8%Sea
Algeria0.25Tonnes: 1,663,030USD per tonne: $1523.4%Sea
Taiwan0.15Tonnes: 1,169,644USD per tonne: $1262%Sea
Bahrain0.13Tonnes: 1,018,502USD per tonne: $1321.8%Sea
United Kingdom0.08Tonnes: 1,023,588USD per tonne: $821.1%Sea
Egypt0.08Tonnes: 505,682USD per tonne: $1541.1%Sea
Trinidad and Tobago0.07Tonnes: 408,132USD per tonne: $1780.99%Sea
Argentina0.05Tonnes: 267,135USD per tonne: $1920.7%Sea
Italy0.04Tonnes: 357,217USD per tonne: $1250.61%Sea
Qatar0.03Tonnes: 152,073USD per tonne: $1880.39%Sea
Philippines0.02Tonnes: 151,956USD per tonne: $1140.24%Sea
Hong Kong re-exports0.02Tonnes: 170,759USD per tonne: $950.22%Sea

Trend

Who it sells to

China has been its main destination since 2018

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

  • China 1.8
  • Germany 1.1
  • Japan 0.88
  • Netherlands 0.7
  • France 0.58

Source: CEPII BACI

Show the numbers
Partner19952024
China0.021.8
Germany0.181.1
Japan0.030.88
Netherlands0.060.7
France0.050.58

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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