Azerbaijan (AZE) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Azerbaijan-Mongolia Trade: In 2022, Azerbaijan exported $423k to Mongolia. The main products that Azerbaijan exported to Mongolia were Baked Goods ($236k), Chocolate ($92.5k), and Flavored Water ($26.8k). Over the past 5 years the exports of Azerbaijan to Mongolia have increased at an annualized rate of 34.2%, from $97.3k in 2017 to $423k in 2022.

In 2022, Azerbaijan did not export any services to Mongolia.

Mongolia-Azerbaijan Trade: In 2022, Mongolia exported $237k to Azerbaijan. The main products that Mongolia exported to Azerbaijan were Bovine, Sheep, and Goat Fat ($154k), Other Vegetable Oils ($62.9k), and Sheep and Goat Meat ($5.84k). Over the past 5 years the exports of Mongolia to Azerbaijan have increased at an annualized rate of 23.6%, from $81.9k in 2017 to $237k in 2022.

In 2022, Mongolia did not export any services to Azerbaijan.

Comparison: In 2022, Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44), and 65 in total exports ($38.9B). That same year, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Azerbaijan exported $423k to Mongolia. The main products exported from Azerbaijan to Mongolia were Baked Goods ($236k), Chocolate ($92.5k), and Flavored Water ($26.8k). During the last 5 years the exports of Azerbaijan to Mongolia have increased at an annualized rate of 34.2%, from $97.3k in 2017 to $423k in 2022.

In 2017, Mongolia exported $237k to Azerbaijan. The main products exported from Mongolia to Azerbaijan were Bovine, Sheep, and Goat Fat ($154k), Other Vegetable Oils ($62.9k), and Sheep and Goat Meat ($5.84k). During the last 5 years the exports of Mongolia to Azerbaijan have increased at an annualized rate of 23.6%, from $81.9k in 2022 to $237k in 2017.

Exports from Azerbaijan () to Mongolia () (2022)

Exports from Mongolia () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Mongolia ()

Azerbaijan Exports

Date

Mongolia Exports

Date

Dec 2019

Aug 2018

Jan 2016

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$18.3B

Mongolia
Top DestinationChina$10.6B

This map shows whether countries import more from Azerbaijan or Mongolia. Each country is colored based on the difference in imports they receive from Azerbaijan and Mongolia or the difference in the growth in imports.

In 2022, countries that imported more from Azerbaijan than Mongolia included Italy ($18.3B), Turkey ($3.57B), and Israel ($1.68B).

In 2022, countries that imported more from Mongolia than Azerbaijan included China ($10.6B), Switzerland ($1.98B), and Singapore ($346M).

Difference in imports from Mongolia () and Azerbaijan () (2022)

Comparative Advantage Azerbaijan - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Azerbaijan and Mongolia by product, considering products traded by both, Azerbaijan and Mongolia.

During 2022, Azerbaijan had a large net trade with Mongolia in the exports of Foodstuffs ($356k), Vegetable Products ($50.4k), and Mineral Products ($17k).

During 2017, Mongolia had a large net trade with Azerbaijan in the exports of Animal and Vegetable Bi-Products ($217k), Animal Products ($11.1k), and Textiles ($8.03k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Mongolia+$113kRefined Petroleum

Top Product Potential Mongolia Azerbaijan+$13.8kKnit Sweaters

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Azerbaijan and Mongolia. This means that a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over Azerbaijan.

About

Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Mongolia () (2022)

Exports from Mongolia () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Mongolia ()

Azerbaijan Exports

Mongolia Exports

Market Competitiveness

Difference in imports from Mongolia () and Azerbaijan () (2022)

Comparative Advantage Azerbaijan - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Azerbaijan () and Mongolia () (2022)

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