United Arab Emirates: Iron Ore Market 2025

Iron Ore Market Size in the United Arab Emirates

In 2021, the iron ore market in the United Arab Emirates increased by 12% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption continues to indicate a noticeable shrinkage. Iron ore consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Iron Ore Exports

Exports from the United Arab Emirates

In 2021, the amount of iron ores and concentrates exported from the United Arab Emirates surged to X tons, with an increase of 141% compared with the previous year's figure. In general, exports posted prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by 150% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, iron ore exports soared to $X in 2021. Over the period under review, exports enjoyed a resilient increase. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), Indonesia (X tons) and Vietnam (X tons) were the main destinations of iron ore exports from the United Arab Emirates, with a combined 84% share of total exports. These countries were followed by Malaysia, which accounted for a further 9%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +133.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and Vietnam ($X) appeared to be the largest markets for iron ore exported from the United Arab Emirates worldwide, with a combined 88% share of total exports.

In terms of the main countries of destination, Indonesia, with a CAGR of +214.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2021, rising by 37% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron ore export price increased by +159.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 an increase of 47%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+64.2%), while the prices for the other major destinations experienced mixed trend patterns.

Iron Ore Imports

Imports into the United Arab Emirates

Iron ore imports into the United Arab Emirates contracted to X tons in 2021, falling by -5.9% on the previous year. Overall, imports showed a abrupt descent. The growth pace was the most rapid in 2017 with an increase of 96%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, iron ore imports soared to $X in 2021. Over the period under review, imports showed a slight reduction. The growth pace was the most rapid in 2017 when imports increased by 128% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Bahrain (X tons), Oman (X tons) and Sweden (X tons) were the main suppliers of iron ore imports to the United Arab Emirates, with a combined 90% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +20.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest iron ore suppliers to the United Arab Emirates were Bahrain ($X), Oman ($X) and Sweden ($X), together comprising 92% of total imports.

Among the main suppliers, Bahrain, with a CAGR of +21.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average iron ore import price amounted to $X per ton, growing by 68% against the previous year. In general, the import price saw a notable expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Bahrain ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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