Mongolia (MNG) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Mongolia-Italy Trade: In 2023, Mongolia exported $87.7M to Italy. The main products that Mongolia exported to Italy were Animal Hair ($67.1M), Platinum Clad Metals ($9.8M), and Ethylene Polymers ($4.29M). Over the past 5 years the exports of Mongolia to Italy have increased at an annualized rate of 12%, from $49.7M in 2018 to $87.7M in 2023.

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

Italy-Mongolia Trade: In 2023, Italy exported $84.7M to Mongolia. The main products that Italy exported to Mongolia were Sculptures ($9.52M), Other Furniture ($4.76M), and Leather Footwear ($4.23M). Over the past 5 years the exports of Italy to Mongolia have increased at an annualized rate of 9.06%, from $54.9M in 2018 to $84.7M in 2023.

In 2023, Italy 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, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mongolia exported $87.7M to Italy. The main products exported from Mongolia to Italy were Animal Hair ($67.1M), Platinum Clad Metals ($9.8M), and Ethylene Polymers ($4.29M). During the last 5 years the exports of Mongolia to Italy have increased at an annualized rate of 12%, from $49.7M in 2018 to $87.7M in 2023.

In 2018, Italy exported $84.7M to Mongolia. The main products exported from Italy to Mongolia were Sculptures ($9.52M), Other Furniture ($4.76M), and Leather Footwear ($4.23M). During the last 5 years the exports of Italy to Mongolia have increased at an annualized rate of 9.06%, from $54.9M in 2023 to $84.7M in 2018.

Exports from Mongolia () to Italy () (2023)

Exports from Italy () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Italy ()

Mongolia Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$13.1B

Italy
Top DestinationGermany$71.4B

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

In 2023, no countries were registered that imported more from Mongolia than from Italy.

In 2023, countries that imported more from Italy than Mongolia included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

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

Comparative Advantage Mongolia - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mongolia had a large net trade with Italy in the exports of Textiles ($69.9M), Precious Metals ($10M), and Plastics and Rubbers ($4.29M).

During 2018, Italy had a large net trade with Mongolia in the exports of Machines ($18.7M), Textiles ($16.2M), and Arts and Antiques ($9.53M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Italy+$1.55MKnit Sweaters

Top Product Potential Italy Mongolia+$1.99MCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Italy () (2023)

Exports from Italy () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Italy ()

Mongolia Exports

Italy Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Italy

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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