Mongolia (MNG) and Kuwait (KWT) Trade | The Observatory of Economic Complexity

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Mongolia-Kuwait Trade: In 2023, Mongolia exported $46.2k to Kuwait. The main products that Mongolia exported to Kuwait were Knit Sweaters ($18k), Other Knit Garments ($5.07k), and Non-Knit Women's Suits ($4.74k). Over the past 5 years the exports of Mongolia to Kuwait have decreased at an annualized rate of 26.4%, from $214k in 2018 to $46.2k in 2023.

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

Kuwait-Mongolia Trade: In 2023, Kuwait exported $980 to Mongolia. The main products that Kuwait exported to Mongolia were N/A. Over the past 5 years the exports of Kuwait to Mongolia have decreased at an annualized rate of 0.78%, from $1.02k in 2018 to $980 in 2023.

In 2023, Kuwait 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, Kuwait ranked 53 in the Economic Complexity Index (ECI 0.21), and 47 in total exports ($71B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mongolia exported $46.2k to Kuwait. The main products exported from Mongolia to Kuwait were Knit Sweaters ($18k), Other Knit Garments ($5.07k), and Non-Knit Women's Suits ($4.74k). During the last 5 years the exports of Mongolia to Kuwait have decreased at an annualized rate of 26.4%, from $214k in 2018 to $46.2k in 2023.

In 2017, Kuwait exported $980 to Mongolia. There were not main exports from Kuwait to Mongolia in 2017. During the last 5 years the exports of Kuwait to Mongolia have decreased at an annualized rate of 0.78%, from $1.02k in 2022 to $980 in 2017.

Exports from Mongolia () to Kuwait () (2023)

Exports from Kuwait () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Kuwait ()

Mongolia Exports

Date

Kuwait Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$13.1B

Kuwait
Top DestinationChina$17.4B

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

In 2023, countries that imported more from Mongolia than Kuwait included Switzerland ($842M), Finland ($22.8M), and Kazakhstan ($8.71M).

In 2023, countries that imported more from Kuwait than Mongolia included India ($9.51B), Japan ($9.13B), and Chinese Taipei ($4.74B).

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

Comparative Advantage Mongolia - Kuwait

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mongolia had a large net trade with Kuwait in the exports of Textiles ($43.2k), Footwear and Headwear ($1.22k), and Animal Hides ($1.13k).

During 2017, Kuwait had a large net trade with Mongolia in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Kuwait+$105kKnit Sweaters

Top Product Potential Kuwait Mongolia+$6.19kMotor vehicles; parts and accessories (8701 to 8705)

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

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Kuwait () (2023)

Exports from Kuwait () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Kuwait ()

Mongolia Exports

Kuwait Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Kuwait

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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