Burkina Faso (BFA) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Burkina Faso-Mongolia Trade: In 2022, Burkina Faso exported $1.55k to Mongolia. The main products that Burkina Faso exported to Mongolia were N/A. Over the past 6 years the exports of Burkina Faso to Mongolia have decreased at an annualized rate of 18.8%, from $5.4k in 2016 to $1.55k in 2022.

In 2022, Burkina Faso did not export any services to Mongolia.

Mongolia-Burkina Faso In N/A, Mongolia did not export any products to Burkina Faso.

In 2022, Mongolia did not export any services to Burkina Faso.

Comparison: In 2023, Burkina Faso ranked 124 in the Economic Complexity Index (ECI -1.36), and 111 in total exports ($8.35B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Burkina Faso exported $1.55k to Mongolia. There were not main exports from Burkina Faso to Mongolia in 2022. During the last 6 years the exports of Burkina Faso to Mongolia have decreased at an annualized rate of 18.8%, from $5.4k in 2016 to $1.55k in 2022.

Mongolia does not register exports to Burkina Faso. The main products exported from Mongolia to Burkina Faso were Pulley Systems ($465k), Interchangeable Tool Parts ($13.5k), and Boat Propellers ($12.4k).

Exports from Burkina Faso () to Mongolia () (2023)

Exports from Mongolia () to Burkina Faso () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Burkina Faso
Top DestinationSwitzerland$6B

Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from Burkina Faso than Mongolia included Switzerland ($6B), United Arab Emirates ($815M), and India ($271M).

In 2023, countries that imported more from Mongolia than Burkina Faso included China ($13.1B), Thailand ($67.1M), and Italy ($87.7M).

Difference in imports from Mongolia () and Burkina Faso () (2023)

Comparative Advantage Burkina Faso - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Burkina Faso had a large net trade with Mongolia in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Burkina Faso Mongolia+$4.03kTropical Fruits

Top Product Potential Mongolia Burkina Faso+$7.98kMachinery Having Individual Functions

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 Burkina Faso and Mongolia. This means that a dot/product with the flag of Burkina Faso indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over Burkina Faso.

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Historical Data

Bilateral Trade by Products

Exports from Burkina Faso () to Mongolia () (2023)

Exports from Mongolia () to Burkina Faso () (2023)

Market Competitiveness

Difference in imports from Mongolia () and Burkina Faso () (2023)

Comparative Advantage Burkina Faso - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Burkina Faso () and Mongolia () (2023)

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