Leading markets for iron ore exports from Australia FY 2023
In financial year 2023, the value of iron ore exported from Australia to China amounted to around 105 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
The production of iron ore in Australia has steadily increased over the years. Iron ore production across the country stood at around 865 million metric tons in 2022. The gross value added (GVA) by the iron ore mining industry grew from around 72 billion Australian dollars in 2012 to more than 136 billion Australian dollars by 2022.
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 124 billion Australian dollars in 2023. LNG followed with an export value of 92 billion Australian dollars in fiscal year 2023.