2022
Flag  
GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
 GDP
$1.68TCURRENT US$
Rnk 12 / 186
2012-2022
Flag
GDP GROWTH
8.3%CURRENT US$
Rnk 148 / 186
2022
Flag
GDP PC 
$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH
12.4%CURRENT US$
Rnk 107 / 186
2022
Flag
GDP PC
$64,491CURRENT US$
Rnk 11 / 186
2012-2022
Flag
GDP PC GROWTH
-5.23%CURRENT US$
Rnk 153 / 186

About

Mongolia-Australia Trade: In 2022, Mongolia exported $1.52M to Australia. The main products that Mongolia exported to Australia were Tungsten Ore ($302k), Excavation Machinery ($137k), and Prefabricated Buildings ($124k). Over the past 5 years the exports of Mongolia to Australia have decreased at an annualized rate of 16.5%, from $3.73M in 2017 to $1.52M in 2022.

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

Australia-Mongolia Trade: In 2022, Australia exported $49.6M to Mongolia. The main products that Australia exported to Mongolia were Refined Copper ($3.8M), Transmissions ($2.97M), and Liquid Pumps ($2.21M). Over the past 5 years the exports of Australia to Mongolia have increased at an annualized rate of 10.2%,  from $30.5M in 2017 to $49.6M in 2022.

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

Comparison: In 2022,  Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B). That same year, Australia ranked 78 in the Economic Complexity Index (ECI -0.24), and 16 in total exports ($424B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Mongolia exported $1.52M to Australia. The main products exported from Mongolia to Australia were Tungsten Ore ($302k), Excavation Machinery ($137k), and Prefabricated Buildings ($124k). During the last 5 years the exports of Mongolia to Australia have decreased at an annualized rate of 16.5%, from $3.73M in 2017 to $1.52M in 2022.

In 2017, Australia exported $49.6M to Mongolia. The main products exported from Australia to Mongolia were Refined Copper ($3.8M), Transmissions ($2.97M), and Liquid Pumps ($2.21M). During the last 5 years the exports of Australia to Mongolia have increased at an annualized rate of 10.2%, from $30.5M in 2022 to $49.6M in 2017.

Exports from Mongolia (Flag) to Australia (Flag) (2022)

Exports from Australia (Flag) to Mongolia (Flag) (2022)

Latest Data

Trade between Mongolia (Flag) and Australia (Flag)

Mongolia Exports

Australia Exports

Market Competitiveness

Color
Mongolia
Top Destination
China$10.6B
Australia
Top Destination
China$123B

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

In 2022, countries that imported more from Mongolia than Australia included Belarus ($375k) and Uzbekistan ($4.3M).

In 2022, countries that imported more from Australia than Mongolia included China ($123B), Japan ($80.1B), and South Korea ($41B).

Difference in imports from Australia (Flag) and Mongolia (Flag) (2022)

Comparative Advantage Mongolia - Australia

Flow
Scale

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

During 2022, Mongolia had a large net trade with Australia in the exports of Machines ($527k), Mineral Products ($306k), and Animal Products ($167k).

During 2017, Australia had a large net trade with Mongolia in the exports of Machines ($20.7M), Metals ($7.83M), and Instruments ($4.84M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia Australia+$192kKnit Sweaters
Top Product Potential Australia Mongolia+$611kTelephones

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

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

Product Space of Mongolia (Flag) and Australia (Flag) (2022)

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