Libya increases iron ore imports from Brazil

Libya, an Arab country in Africa, imported 1.6 million tonnes of iron ore from Brazil from January to October this year, marking a 60% increase compared to the same period last year, when it purchased 1.05 million tonnes of Brazilian iron ore. The information is based on foreign trade data from Brazil’s Ministry of Development, Industry, Commerce, and Services.

Libya spent USD 209 million on Brazilian iron ore purchases in the first ten months of this year, also marking an increase compared to the same period in 2023, when the value was USD 127.4 million. This represents a 64% growth. The slightly higher increase in value compared to volume indicates that the iron ore was exported to Libya at slightly higher prices than last year.

Increasing trade

This was the highest level of Libyan imports of Brazilian iron ore this decade. In 2002, the country purchased only 300,000 tonnes of the product, totaling USD 46.8 million. In 2021, imports reached 450,000 tonnes for USD 102.8 million, and in the previous year, 2020, purchases totaled 300,100 tonnes, valued at USD 28.1 million. Iron ore was the main product in Brazil’s exports to Libya this year.

Source: ANBA

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