Brazil stands out in the export of iron ore

Brazil is the second largest exporter of iron ore in the world and is estimated to have one of the main reserves of the material. Brazilian iron ore is also of better quality, as it has a higher iron content - around 60%.

In 2021, Brazil exported 357.7 million tons of iron ore, compared to 341.6 million tons in the previous year. Iron ore accounted for 74% of mineral exports in 2021, compared to 66% in 2020; this robust growth provided a revenue of over R$ 250 billion.

Much of the Brazilian infrastructure built throughout the 20th century was designed for the exportation of iron ore. The largest deposits are in the states of Minas Gerais, Mato Grosso and Pará. Brazil also has a huge steel industry, ranking among the 10 largest steel exporters.