2022
Flag  
GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
 GDP
$409BCURRENT US$
Rnk 35 / 186
2012-2022
Flag
GDP GROWTH
109%CURRENT US$
Rnk 12 / 186
2022
Flag
GDP PC 
$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH
12.4%CURRENT US$
Rnk 107 / 186
2022
Flag
GDP PC
$4,164CURRENT US$
Rnk 120 / 186
2012-2022
Flag
GDP PC GROWTH
90.1%CURRENT US$
Rnk 11 / 186

About

Mongolia-Vietnam Trade: In 2022, Mongolia exported $364k to Vietnam. The main products that Mongolia exported to Vietnam were Tungsten Ore ($305k) and Edible Offal ($59.3k). Over the past 5 years the exports of Mongolia to Vietnam have decreased at an annualized rate of 63.3%, from $54.9M in 2017 to $364k in 2022.

In 2022, Mongolia did not export any services to Vietnam.

Vietnam-Mongolia Trade: In 2022, Vietnam exported $81.9M to Mongolia. The main products that Vietnam exported to Mongolia were Broadcasting Equipment ($20.8M), Rice ($8.41M), and Iron Structures ($6.21M). Over the past 5 years the exports of Vietnam to Mongolia have increased at an annualized rate of 20.4%,  from $32.3M in 2017 to $81.9M in 2022.

In 2022, Vietnam did not export any services to Mongolia.

Comparison: In 2022,  Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B). That same year, Vietnam ranked 55 in the Economic Complexity Index (ECI 0.2), and 19 in total exports ($399B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Mongolia exported $364k to Vietnam. The main products exported from Mongolia to Vietnam were Tungsten Ore ($305k) and Edible Offal ($59.3k). During the last 5 years the exports of Mongolia to Vietnam have decreased at an annualized rate of 63.3%, from $54.9M in 2017 to $364k in 2022.

In 2017, Vietnam exported $81.9M to Mongolia. The main products exported from Vietnam to Mongolia were Broadcasting Equipment ($20.8M), Rice ($8.41M), and Iron Structures ($6.21M). During the last 5 years the exports of Vietnam to Mongolia have increased at an annualized rate of 20.4%, from $32.3M in 2022 to $81.9M in 2017.

Exports from Mongolia (Flag) to Vietnam (Flag) (2022)

Exports from Vietnam (Flag) to Mongolia (Flag) (2022)

Latest Data

Trade between Mongolia (Flag) and Vietnam (Flag)

Mongolia Exports

Market Competitiveness

Color
Mongolia
Top Destination
China$10.6B
Vietnam
Top Destination
United States$117B

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

In 2022, countries that imported more from Mongolia than Vietnam included Switzerland ($1.98B), Iran ($7.39M), and Sudan ($419k).

In 2022, countries that imported more from Vietnam than Mongolia included United States ($117B), China ($58.7B), and Japan ($25B).

Difference in imports from Vietnam (Flag) and Mongolia (Flag) (2022)

Comparative Advantage Mongolia - Vietnam

Flow
Scale

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

During 2022, Mongolia had a large net trade with Vietnam in the exports of Mineral Products ($305k) and Animal Products ($59.3k).

During 2017, Vietnam had a large net trade with Mongolia in the exports of Machines ($27.4M), Foodstuffs ($14.7M), and Vegetable Products ($9.21M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia Vietnam+$49.6kTungsten Ore
Top Product Potential Vietnam Mongolia+$15.8MTelephones

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

This visualization shows the product space at the HS4 level with the flags of Mongolia and Vietnam. This means that a dot/product with the flag of Mongolia indicates it has a comparative advantage over Vietnam. Similarly, a dot/product with the flag of Vietnam indicates it has a comparative advantage over Mongolia.

Product Space of Mongolia (Flag) and Vietnam (Flag) (2022)

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