Flag Mongolia / South Korea Flag

2021
FlagFlag
Exports
: $221M, Rnk 4 / 105

2021
FlagFlag
Top Product
: $152M, Gold

2021
FlagFlag
Exports
: $366M, Rnk 77 / 218

2021
FlagFlag
Top Product
: $29.6M, Rolled Tobacco

2021
Flag
Economic Complexity (ECI)
: ECI -1.23, Rnk 117 / 131

2021
Flag
Economic Complexity (ECI)
: ECI 1.82, Rnk 4 / 131

2021
Flag  
GDP
: $15.1B, CURRENT US$
Rnk 123 / 182

2011-2021
Flag
GDP GROWTH
: 45%, CURRENT US$
Rnk 61 / 182

2021
Flag
 GDP
: $1.8T, CURRENT US$
Rnk 10 / 182

2011-2021
Flag
GDP GROWTH
: 43.5%, CURRENT US$
Rnk 64 / 182

2021
Flag
GDP PC 
: $4,535, CURRENT US$
Rnk 107 / 182

2011-2021
Flag
GDP PC GROWTH
: 20.7%, CURRENT US$
Rnk 71 / 182

2021
Flag
GDP PC
: $34,758, CURRENT US$
Rnk 28 / 182

2011-2021
Flag
GDP PC GROWTH
: 38.5%, CURRENT US$
Rnk 43 / 182

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

#permalink to section

Bilateral Trade by Products

#permalink to section
Depth
Value

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.

Mongolia Exports

#permalink to section

South Korea Exports

#permalink to section

Market Competitiveness

#permalink to section
Color

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

#permalink to section
Flow
Scale

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

#permalink to section

Competitive Landscape

#permalink to section

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.