2022
Flag  
GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
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GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
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 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH
30.3%CURRENT US$
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2022
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GDP PC 
$4,947CURRENT US$
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2012-2022
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GDP PC GROWTH
12.4%CURRENT US$
Rnk 107 / 186
2022
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GDP PC
$32,255CURRENT US$
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2012-2022
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GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

Mongolia-South Korea In 2022, Mongolia exported $259M to South Korea. The main products that Mongolia exported to South Korea are Coal Briquettes ($150M), Gold ($76.2M), and Molybdenum Ore ($8.91M). During the last 27 years the exports of Mongolia to South Korea have increased at an annualized rate of 13.1%, from $9.36M in 1995 to $259M in 2022.

In 2022, Mongolia did not export any services to South Korea.

South Korea-Mongolia In 2022, South Korea exported $437M to Mongolia. The main products that South Korea exported to Mongolia were Rolled Tobacco ($36.7M), Beauty Products ($24M), and Refined Petroleum ($21.5M). During the last 27 years the exports of South Korea to Mongolia have increased at an annualized rate of 10.7%, from $28M in 1995 to $437M in 2022.

In 2022, South Korea did not export any services to Mongolia.

Comparison In 2022,  Mongolia ranked 110 in the Economic Complexity Index (ECI -1.14), and 94 in total exports ($13.6B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Mongolia exported $259M to South Korea. The main products exported from Mongolia to South Korea were Coal Briquettes ($150M), Gold ($76.2M), and Molybdenum Ore ($8.91M). During the last 27 years the exports of Mongolia to South Korea have increased at an annualized rate of 13.1%, from $9.36M in 1995 to $259M in 2022.

In 2022, South Korea exported $437M to Mongolia. The main products exported from South Korea to Mongolia were Rolled Tobacco ($36.7M), Beauty Products ($24M), and Refined Petroleum ($21.5M). During the last 27 years the exports of South Korea to Mongolia have increased at an annualized rate of 10.7%, from $28M in 1995 to $437M in 2022.

Exports from Mongolia (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to Mongolia (Flag) (2022)

Latest Data

Trade between Mongolia (Flag) and South Korea (Flag)

Mongolia Exports

South Korea Exports

Market Competitiveness

Color
Mongolia
Top Destination
China$10.6B
South Korea
Top Destination
China$150B

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

In 2021, countries that imported more from Mongolia than South Korea were Switzerland ($1.98B).

In 2021, countries that imported more from South Korea than Mongolia were China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea (Flag) and Mongolia (Flag) (2022)

Comparative Advantage Mongolia - South Korea

Flow
Scale

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

During 2022, Mongolia had a large net trade with South Korea in the exports of Mineral Products ($160M), Precious Metals ($76.3M), and Textiles ($14.2M).

During 2022, South Korea had a large net trade with Mongolia in the exports of Foodstuffs ($108M), Machines ($79.3M), and Chemical Products ($72.9M).

Economic Complexity

Competitive Landscape

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

Product Space of Mongolia (Flag) and South Korea (Flag) (2022)

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