Mongolia (MNG) and Hungary (HUN) Trade | The Observatory of Economic Complexity

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Mongolia-Hungary Trade: In 2023, Mongolia exported $93.1k to Hungary. The main products that Mongolia exported to Hungary were Hand-Woven Rugs ($41.4k), Prefabricated Buildings ($14.6k), and Other Edible Preparations ($9.49k). Over the past 5 years the exports of Mongolia to Hungary have decreased at an annualized rate of 32.7%, from $676k in 2018 to $93.1k in 2023.

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

Hungary-Mongolia Trade: In 2023, Hungary exported $22.2M to Mongolia. The main products that Hungary exported to Mongolia were Packaged Medicaments ($14.4M), Water ($1.4M), and Dairy Machinery ($1.22M). Over the past 5 years the exports of Hungary to Mongolia have increased at an annualized rate of 11.7%, from $12.8M in 2018 to $22.2M in 2023.

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

Comparison: In 2023, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B). That same year, Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mongolia exported $93.1k to Hungary. The main products exported from Mongolia to Hungary were Hand-Woven Rugs ($41.4k), Prefabricated Buildings ($14.6k), and Other Edible Preparations ($9.49k). During the last 5 years the exports of Mongolia to Hungary have decreased at an annualized rate of 32.7%, from $676k in 2018 to $93.1k in 2023.

In 2018, Hungary exported $22.2M to Mongolia. The main products exported from Hungary to Mongolia were Packaged Medicaments ($14.4M), Water ($1.4M), and Dairy Machinery ($1.22M). During the last 5 years the exports of Hungary to Mongolia have increased at an annualized rate of 11.7%, from $12.8M in 2023 to $22.2M in 2018.

Exports from Mongolia () to Hungary () (2023)

Exports from Hungary () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Hungary ()

Mongolia Exports

Date

Hungary Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$13.1B

Hungary
Top DestinationGermany$37.4B

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

In 2023, countries that imported more from Mongolia than Hungary included China ($13.1B).

In 2023, countries that imported more from Hungary than Mongolia included Germany ($37.4B), Italy ($9.08B), and Romania ($8.43B).

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

Comparative Advantage Mongolia - Hungary

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mongolia had a large net trade with Hungary in the exports of Textiles ($59.1k), Miscellaneous ($15k), and Foodstuffs ($9.54k).

During 2018, Hungary had a large net trade with Mongolia in the exports of Chemical Products ($16.7M), Foodstuffs ($2.06M), and Machines ($1.8M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Hungary+$91.6kCars

Top Product Potential Hungary Mongolia+$1.03MCars

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

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Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Hungary () (2023)

Exports from Hungary () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Hungary ()

Mongolia Exports

Hungary Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Hungary

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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