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Where does China get its iron ore? Import sources 2024

In 2024, China imported $117.8 billion of iron ore (1,251.8 million tonnes), 70.3% of the world total. Australia sold 64% of the total, followed by Brazil (18%) and South Africa (3%). China was the world’s largest importer of iron ore.

Summary

Value
$117.8billion
Tonnes
1,251.8million tonnes
Share of world total
70.3%
World rank
1st
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 20 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Australia75.7Tonnes: 756,162,761USD per tonne: $10064.3%Sea
Brazil21.1Tonnes: 276,396,950USD per tonne: $7617.9%Sea
South Africa3.6Tonnes: 35,000,382USD per tonne: $1033.1%Sea
India3.1Tonnes: 35,243,330USD per tonne: $872.6%Sea
Peru1.8Tonnes: 22,278,782USD per tonne: $821.5%Sea
Canada1.8Tonnes: 16,542,518USD per tonne: $1101.5%Sea
Chile1.2Tonnes: 11,642,067USD per tonne: $1021%Sea
Iran1.1Tonnes: 9,301,202USD per tonne: $1220.96%Sea
Oman1.1Tonnes: 8,737,307USD per tonne: $1240.92%Sea
Ukraine1.1Tonnes: 15,041,118USD per tonne: $700.89%Sea
Mauritania0.99Tonnes: 9,377,107USD per tonne: $1050.84%Sea
Russia0.93Tonnes: 9,073,677USD per tonne: $1030.79%Sea
Sierra Leone0.83Tonnes: 9,280,638USD per tonne: $890.7%Sea
Malaysia0.73Tonnes: 7,364,670USD per tonne: $990.62%Sea
Mongolia0.51Tonnes: 7,422,157USD per tonne: $690.43%Land
Laos0.48Tonnes: 4,096,593USD per tonne: $1170.41%Land
Kazakhstan0.41Tonnes: 5,742,463USD per tonne: $710.35%Land
Venezuela0.28Tonnes: 2,190,448USD per tonne: $1260.23%Sea
Sweden0.15Tonnes: 970,898USD per tonne: $1520.13%Sea
United States0.14Tonnes: 1,101,991USD per tonne: $1310.12%Sea

Trend

Who it buys from

Australia has been its main source since 2005

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

  • Australia 75.7
  • Brazil 21.1
  • South Africa 3.6
  • India 3.1
  • Peru 1.8

Source: CEPII BACI

Show the numbers
Partner19952024
Australia0.5275.7
Brazil0.1721.1
South Africa0.13.6
India0.083.1
Peru0.071.8

Sources and methodology

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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