India (IND) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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India-Mongolia In 2022, India exported $71.3M to Mongolia. The main products that India exported to Mongolia are Raw Sugar ($14M), Broadcasting Equipment ($12.2M), and Packaged Medicaments ($8.79M). During the last 27 years the exports of India to Mongolia have increased at an annualized rate of 14.1%, from $2.03M in 1995 to $71.3M in 2022.

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

Mongolia-India In 2022, Mongolia exported $962k to India. The main products that Mongolia exported to India were Prepared Wool or Animal Hair ($533k), Wool ($334k), and Animal Hair ($62k). During the last 27 years the exports of Mongolia to India have increased at an annualized rate of 7.48%, from $137k in 1995 to $962k in 2022.

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

Comparison In 2022, India ranked 42 in the Economic Complexity Index (ECI 0.57), and 15 in total exports ($468B). That same year, Mongolia ranked 110 in the Economic Complexity Index (ECI -1.14), and 94 in total exports ($13.6B).

Latest Trends

January, 2024

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Overview In January 2024, India exported $2.49M and imported $58.4k from Mongolia, resulting in a positive trade balance of $2.44M. Between January 2023 and January 2024 the exports of India have decreased by $-190k (-7.09%) from $2.68M to $2.49M, while imports increased by $58.3k (47k%) from $124 to $58.4k.

Trade In January 2024, the top exports of India to Mongolia were Ac, Refrigeration Machnry Etc ($489k), Cereal Preparations ($446k), Products Of Iron And Steel ($439k), Electronics Components ($329k), and Drug Formulations, Biologicals ($324k). In January 2024 the top imports of India from Mongolia were Books, Publications And Prntng ($124).

Growth In January 2024, the decrease in India's year-by-year exports to Mongolia was explained primarily by an decrease in product exports in Drug Formulations, Biologicals ($-548k or -62.8%), Other Construction Machinery ($-101k or -48.2%), and Other Commodities ($-77.2k or -100%). In January 2024, the increase in India's year-by-year imports from Mongolia was explained primarily by an increase in product imports in .

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2023 - January 2024)$-190k(-7.09%)

IMPORT GROWTH (January 2023 - January 2024)$58.3k(47k%)

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

To check Mongolia and India trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, India exported $71.3M to Mongolia. The main products exported from India to Mongolia were Raw Sugar ($14M), Broadcasting Equipment ($12.2M), and Packaged Medicaments ($8.79M). During the last 27 years the exports of India to Mongolia have increased at an annualized rate of 14.1%, from $2.03M in 1995 to $71.3M in 2022.

In 2022, Mongolia exported $962k to India. The main products exported from Mongolia to India were Prepared Wool or Animal Hair ($533k), Wool ($334k), and Animal Hair ($62k). During the last 27 years the exports of Mongolia to India have increased at an annualized rate of 7.48%, from $137k in 1995 to $962k in 2022.

Exports from India () to Mongolia () (2022)

Exports from Mongolia () to India () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

India
Top DestinationUnited States$82.9B

Mongolia
Top DestinationChina$10.6B

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

In 2021, countries that imported more from India than Mongolia were United States ($82.9B), United Arab Emirates ($31.6B), and Netherlands ($17.6B).

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

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

Comparative Advantage India - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, India had a large net trade with Mongolia in the exports of Machines ($24.1M), Foodstuffs ($17.9M), and Chemical Products ($12.8M).

During 2022, Mongolia had a large net trade with India in the exports of Textiles ($933k), Machines ($20k), and Foodstuffs ($5k).

Economic Complexity

Competitive Landscape

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 India has comparative advantage over Mongolia. Similarly, the more yellow a dot/product is, the more Mongolia has comparative advantage over India.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from India () to Mongolia () (2022)

Exports from Mongolia () to India () (2022)

Market Competitiveness

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

Comparative Advantage India - Mongolia

Economic Complexity

Competitive Landscape

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

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