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Where does South Korea get its iron ore? Import sources 2024

In 2024, South Korea imported $7.7 billion of iron ore (68.5 million tonnes), 4.6% of the world total. Australia sold 70% of the total, followed by Brazil (13%) and South Africa (9%). South Korea was the world’s 3rd-largest importer of iron ore.

Summary

Value
$7.7billion
Tonnes
68.5million tonnes
Share of world total
4.6%
World rank
3rd
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
Australia5.4Tonnes: 49,459,924USD per tonne: $11070%Sea
Brazil1Tonnes: 8,216,310USD per tonne: $12613.3%Sea
South Africa0.67Tonnes: 5,185,814USD per tonne: $1298.6%Sea
Canada0.43Tonnes: 4,083,144USD per tonne: $1045.5%Sea
Chile0.12Tonnes: 904,354USD per tonne: $1361.6%Sea
India0.03Tonnes: 181,652USD per tonne: $1380.32%Sea
China0.02Tonnes: 183,432USD per tonne: $1170.28%Sea
Bahrain0.01Tonnes: 161,311USD per tonne: $780.16%Sea
Sweden0.01Tonnes: 71,569USD per tonne: $1510.14%Sea
Mali< 0.01Tonnes: 36,438USD per tonne: $1300.06%Sea
Netherlands re-exports< 0.01Tonnes: 40USD per tonne: $3890%Sea
France< 0.01Tonnes: 12USD per tonne: $1,0780%Sea
Pakistan< 0.01Tonnes: 2USD per tonne: $7520%Sea
Germany< 0.01Tonnes: —USD per tonne: —0%Sea
Mauritania< 0.01Tonnes: 1USD per tonne: $1,1340%Sea
Peru< 0.01Tonnes: 0USD per tonne: $4,5890%Sea
Egypt< 0.01Tonnes: 0USD per tonne: $5,4140%Sea
Paraguay< 0.01Tonnes: 0USD per tonne: $6,5450%Sea
Philippines< 0.01Tonnes: 0USD per tonne: $3,6490%Sea
Malaysia< 0.01Tonnes: —USD per tonne: —0%Sea

Trend

Who it buys from

Australia was its main source throughout the period

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

  • Australia 5.4
  • Brazil 1
  • South Africa 0.67
  • Canada 0.43
  • Chile 0.12

Source: CEPII BACI

Show the numbers
Partner19952024
Australia0.425.4
Brazil0.191
South Africa0.020.67
Canada0.010.43
Chile0.040.12

Sources and methodology

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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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