While it's a significant amount, it's important to note that:
* Most iron is found in the Earth's core: The Earth's core is believed to be composed primarily of iron and nickel. The crust only contains a small fraction of the total iron on Earth.
* Iron in the crust is mostly in the form of minerals: Iron is rarely found in its pure form in the Earth's crust. It's typically found in minerals like hematite, magnetite, and siderite.
So, while 5% might seem like a large percentage, it represents a small amount of the total iron on Earth.