In 2023, the value of iron ore exported from Australia to China amounted to around 115 billion Australian dollars. China was by far the leading export destination for Australian iron ore in terms of value this year.
Iron ore industry in Australia
At around 870 million metric tons in 2022, production of iron ore in Australia has steadily increased over the years, with production primarily located in Western Australia. The gross value added (GVA) by the iron ore mining industry grew from around 72 billion Australian dollars in 2013 to more than 114 billion Australian dollars by 2023. Today, Australia plays a critical role in the global iron ore supply chain, with a significant portion of its iron ore exported for overseas consumption.
Commodity exports from Australia
Iron ore was the leading resource and energy commodity exported from Australia. Sources revealed that the value of iron ore exported from Australia amounted to 138 billion Australian dollars in 2024, with LNG and coal trailing behind. On a global scale, Australia was the leading iron ore exporting country, accounting for around half of worldwide shipments.
Leading markets for iron ore exports from Australia in 2023
(in billion Australian dollars)
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Department of Industry, Science, Energy and Resources (Australia). (September 30, 2024). Leading markets for iron ore exports from Australia in 2023 (in billion Australian dollars) [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/1149300/australia-leading-iron-ore-export-destinations/
Department of Industry, Science, Energy and Resources (Australia). "Leading markets for iron ore exports from Australia in 2023 (in billion Australian dollars)." Chart. September 30, 2024. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/1149300/australia-leading-iron-ore-export-destinations/
Department of Industry, Science, Energy and Resources (Australia). (2024). Leading markets for iron ore exports from Australia in 2023 (in billion Australian dollars). Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/1149300/australia-leading-iron-ore-export-destinations/
Department of Industry, Science, Energy and Resources (Australia). "Leading Markets for Iron Ore Exports from Australia in 2023 (in Billion Australian Dollars)." Statista, Statista Inc., 30 Sep 2024, https://www.statista.com/statistics/1149300/australia-leading-iron-ore-export-destinations/
Department of Industry, Science, Energy and Resources (Australia), Leading markets for iron ore exports from Australia in 2023 (in billion Australian dollars) Statista, https://www.statista.com/statistics/1149300/australia-leading-iron-ore-export-destinations/ (last visited December 03, 2024)
Leading markets for iron ore exports from Australia in 2023 (in billion Australian dollars) [Graph], Department of Industry, Science, Energy and Resources (Australia), September 30, 2024. [Online]. Available: https://www.statista.com/statistics/1149300/australia-leading-iron-ore-export-destinations/
