Mongolia (MNG) and South Korea (KOR) Trade | OEC - The Observatory of Economic Complexity

About

Mongolia-South Korea In 2021, Mongolia exported $221M to South Korea. The main products that Mongolia exported to South Korea are Gold ($152M), Coal Briquettes ($43.3M), and Molybdenum Ore ($8.06M). During the last 26 years the exports of Mongolia to South Korea have increased at an annualized rate of 13%, from $9.3M in 1995 to $221M in 2021.

In 2021, Mongolia did not export any services to South Korea.

South Korea-Mongolia In 2021, South Korea exported $366M to Mongolia. The main products that South Korea exported to Mongolia were Rolled Tobacco ($29.6M), Delivery Trucks ($24.3M), and Large Construction Vehicles ($20.8M). During the last 26 years the exports of South Korea to Mongolia have increased at an annualized rate of 10.4%, from $28M in 1995 to $366M in 2021.

In 2021, South Korea did not export any services to Mongolia.

Comparison In 2021, Mongolia ranked 117 in the Economic Complexity Index (ECI -1.23), and 95 in total exports ($10.5B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.82), and 5 in total exports ($653B).

Historical Data

Bilateral Trade by Products

Depth

Value

Year

In 2021, Mongolia exported $221M to South Korea. The main products exported from Mongolia to South Korea were Gold ($152M), Coal Briquettes ($43.3M), and Molybdenum Ore ($8.06M). During the last 26 years the exports of Mongolia to South Korea have increased at an annualized rate of 13%, from $9.3M in 1995 to $221M in 2021.

In 2021, South Korea exported $366M to Mongolia. The main products exported from South Korea to Mongolia were Rolled Tobacco ($29.6M), Delivery Trucks ($24.3M), and Large Construction Vehicles ($20.8M). During the last 26 years the exports of South Korea to Mongolia have increased at an annualized rate of 10.4%, from $28M in 1995 to $366M in 2021.

Latest Data

Mongolia Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

SectionYear

Mongolia
Top Destination: China, $7.64B

South Korea
Top Destination: China, $158B

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 ($1.97B).

In 2021, countries that imported more from South Korea than Mongolia were China ($158B), United States ($95.9B), and Vietnam ($56.5B).

Comparative Advantage Mongolia - South Korea

Flow

Scale

Year

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

During 2021, Mongolia had a large net trade with South Korea in the exports of Precious Metals ($152M), Mineral Products ($52.2M), and Textiles ($11.3M).

During 2021, South Korea had a large net trade with Mongolia in the exports of Foodstuffs ($78.1M), Machines ($72.1M), and Chemical Products ($59.5M).

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

About

Historical Data

Bilateral Trade by Products

Latest Data

Mongolia Exports

South Korea Exports

Market Competitiveness

Comparative Advantage Mongolia - South Korea

Economic Complexity

Competitive Landscape

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