Brazil's iron ore exports up by 13.4% in 2003

Brazil’s iron ore exports up by 13.4% in 2003

Based on the data released by Brazilian Development Ministry Foreign Trade Department, Brazil's iron ore export revenue increased by 13.4% to $4.45 billion in 2003. The increase in iron ore export revenue is attributed to the Argentine and Chilean economic recovery and the performance of new buyers such as Egypt. In 2003, the significant importer of Brazilian iron ore was China again. China's imports of iron ore revenue reached $764.9 million, up by 28.1% compared to 2002. Japan was the second largest importer with $457.2 million. Argentine iron ore imports from Brazil increased by 31.02% while Egypt's iron ore imports were up by 27.95%. Iron ore exports of the five largest Brazilian mining companies CVRD, MBR, Samarco, CBMM and Ferteco amounted to $3.41 billion in 2003, up by 10.6% compared to $3.1 billion recorded in 2002.