Global data, a data and analysis company, reports that India's iron ore exports are expected to decline by about 25% to 23.3 million tons in 2020 due to a shortage of workers and transportation constraints due to the outbreak of covid-19 and subsequent port closures.
However, despite the decline in production in 2020, India's iron ore production is expected to increase at an average annual rate of 7.2% in 2020-2024, reaching 271.2 million tons by 2024.
At the same time, with the support of increased demand from China, India's iron ore export is expected to recover from the decline in 2020, and its forecast compound annual growth rate is 4.2%, which will reach 27.5 million tons by 2024.