The annual iron ore export of Brazil saw a significant increase in 2023, reaching 378.5 million tons. This represents a notable 10% increase compared to the previous year.
Iron ore emerged as Brazil's third-largest export product, accounting for a substantial 8.99% share of the country's overall shipments. Additionally, iron ore plays a significant role in Brazil's economic landscape, constituting an impressive 38.7% of the total supply in the mining industry.
The peak of this increase was observed in December, with international destinations receiving 39.7 million tons of iron ore exports. This quantity represents the highest level recorded in the past 12 years, showcasing Brazil's resilience and competitiveness in the global market. The value of these December shipments is noteworthy at 30.5 billion dollars, reflecting a significant 5.5% increase compared to the previous year, totaling 3.5 billion dollars.
In 2023, China emerged as the primary destination for Brazil's overseas iron ore shipments, constituting 64% of the total exports. Malaysia ranked second in iron ore imports with a 5.7% share, while Japan and Bahrain accounted for 4% and 3.6% of Brazil's imports, respectively.
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