Guatemala (GTM) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Guatemala-Mongolia Trade: In 2023, Guatemala exported $34.2k to Mongolia. The main products that Guatemala exported to Mongolia were Seats ($14.1k), Knit Sweaters ($12.8k), and Other Furniture ($7.26k). Over the past 5 years the exports of Guatemala to Mongolia have decreased at an annualized rate of 61.3%, from $3.95M in 2018 to $34.2k in 2023.

In 2023, Guatemala did not export any services to Mongolia.

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

In 2023, Mongolia did not export any services to Guatemala.

Comparison: In 2023, Guatemala ranked 73 in the Economic Complexity Index (ECI -0.21), and 86 in total exports ($15.4B). 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 2023, Guatemala exported $34.2k to Mongolia. The main products exported from Guatemala to Mongolia were Seats ($14.1k), Knit Sweaters ($12.8k), and Other Furniture ($7.26k). During the last 5 years the exports of Guatemala to Mongolia have decreased at an annualized rate of 61.3%, from $3.95M in 2018 to $34.2k in 2023.

Mongolia does not register exports to Guatemala.

Exports from Guatemala () to Mongolia () (2023)

Exports from Mongolia () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Mongolia ()

Guatemala Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Guatemala
Top DestinationUnited States$5.16B

Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from Guatemala than Mongolia included United States ($5.16B), El Salvador ($1.73B), and Honduras ($1.42B).

In 2023, countries that imported more from Mongolia than Guatemala included China ($13.1B), Switzerland ($842M), and Thailand ($67.1M).

Difference in imports from Mongolia () and Guatemala () (2023)

Comparative Advantage Guatemala - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Guatemala had a large net trade with Mongolia in the exports of Miscellaneous ($21.4k) and Textiles ($12.8k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Guatemala Mongolia+$374kRaw Sugar

Top Product Potential Mongolia Guatemala+$3.9kCoal Briquettes

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

About

Historical Data

Bilateral Trade by Products

Exports from Guatemala () to Mongolia () (2023)

Exports from Mongolia () to Guatemala () (2023)

Latest Data

Trade between Guatemala () and Mongolia ()

Guatemala Exports

Market Competitiveness

Difference in imports from Mongolia () and Guatemala () (2023)

Comparative Advantage Guatemala - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Guatemala () and Mongolia () (2023)

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