United Kingdom (GBR) and Mongolia (MNG) Trade | OEC - The Observatory of Economic Complexity

About

United Kingdom-Mongolia In 2021, United Kingdom exported $44.4M to Mongolia. The main products that United Kingdom exported to Mongolia are Planes, Helicopters, and/or Spacecraft ($7.55M), Iron Pipe Fittings ($5.22M), and Cars ($3.35M). During the last 26 years the exports of United Kingdom to Mongolia have increased at an annualized rate of 9.11%, from $4.6M in 1995 to $44.4M in 2021.

In 2021, United Kingdom did not export any services to Mongolia.

Mongolia-United Kingdom In 2021, Mongolia exported $13.2M to United Kingdom. The main products that Mongolia exported to United Kingdom were Prepared Wool or Animal Hair ($5.36M), Animal Hair ($3.04M), and Knit Sweaters ($2.58M). During the last 26 years the exports of Mongolia to United Kingdom have increased at an annualized rate of 5.8%, from $3.05M in 1995 to $13.2M in 2021.

In 2021, Mongolia did not export any services to United Kingdom.

Comparison In 2021, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.43), and 13 in total exports ($420B). That same year, Mongolia ranked 117 in the Economic Complexity Index (ECI -1.23), and 95 in total exports ($10.5B).

Latest Trends

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January, 2023

About

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Overview In January 2023, United Kingdom exported £2.33M and imported £384k from Mongolia, resulting in a positive trade balance of £1.95M. Between January 2022 and January 2023 the exports of United Kingdom have increased by £1.21M (107%) from £1.13M to £2.33M, while imports decreased by £-806k (-67.7%) from £1.19M to £384k.

Trade In January 2023, the top exports of United Kingdom to Mongolia were Cars (£336k), Iron Railway Products (£158k), Chemical Analysis Instruments (£123k), Telephones (£87.9k), and Baked Goods (£74.2k). In January 2023 the top imports of United Kingdom from Mongolia were Prepared Wool or Animal Hair (£621k), Animal Hair (£170k), Knit Sweaters (£146k), Honey (£121k), and Surveying Equipment (£41.2k).

Origins In January 2023 the exports of United Kingdom were mainly from Southampton (£1.45M), Dover Eurotunnel (£371k), London Heathrow Airport (£147k), East Midlands Airport (£117k), and Dover (£116k), while imports destinations were mainly London Heathrow Airport (£348k), Felixstowe (£14.1k), and Manchester Airport (£10k).

Growth In January 2023, the increase in United Kingdom's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Cars (£128k or 61.2%), Iron Railway Products (£80.4k or 104%), and Knit T-shirts (£33.6k or 3.77k%). In January 2023, the decrease in United Kingdom's year-by-year imports from Mongolia was explained primarily by an decrease in product imports in Prefabricated Buildings (£-38.7k or -69.4%).

Latest Trade

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Flow

Time Scale

Depth

Value

EXPORT GROWTH (January 2022 - January 2023): £1.21M, (107%)

IMPORT GROWTH (January 2022 - January 2023): £-806k, (-67.7%)

MAIN EXPORTER (January 2023): Southampton, £1.45M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Mongolia and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

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Bilateral Trade by Products

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Depth

Value

Year

In 2021, United Kingdom exported $44.4M to Mongolia. The main products exported from United Kingdom to Mongolia were Planes, Helicopters, and/or Spacecraft ($7.55M), Iron Pipe Fittings ($5.22M), and Cars ($3.35M). During the last 26 years the exports of United Kingdom to Mongolia have increased at an annualized rate of 9.11%, from $4.6M in 1995 to $44.4M in 2021.

In 2021, Mongolia exported $13.2M to United Kingdom. The main products exported from Mongolia to United Kingdom were Prepared Wool or Animal Hair ($5.36M), Animal Hair ($3.04M), and Knit Sweaters ($2.58M). During the last 26 years the exports of Mongolia to United Kingdom have increased at an annualized rate of 5.8%, from $3.05M in 1995 to $13.2M in 2021.

Market Competitiveness

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Color

SectionYear

United Kingdom
Top Destination: United States, $56.1B

Mongolia
Top Destination: China, $7.64B

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

In 2021, countries that imported more from United Kingdom than Mongolia were United States ($56.1B), Germany ($39.5B), and Netherlands ($34.6B).

In 2019, no countries were registered that imported more from Mongolia than from United Kingdom.

Comparative Advantage United Kingdom - Mongolia

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Flow

Scale

Year

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

During 2021, United Kingdom had a large net trade with Mongolia in the exports of Transportation ($12.1M), Machines ($7.98M), and Metals ($7.12M).

During 2021, Mongolia had a large net trade with United Kingdom in the exports of Textiles ($12.5M), Miscellaneous ($261k), and Machines ($243k).

Economic Complexity

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Competitive Landscape

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Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more United Kingdom has comparative advantage over Mongolia. Similarly, the more yellow a dot/product is, the more Mongolia has comparative advantage over United Kingdom.

About

Latest Trends

About

Latest Trade

Historical Data

Bilateral Trade by Products

Market Competitiveness

Comparative Advantage United Kingdom - Mongolia

Economic Complexity

Competitive Landscape

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