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2023
Flag → Flag
Exports $397kRnk 174 / 205
2023
Flag → Flag
Top Product $130kMicrophones and Headphones
2023
Flag → Flag
Exports $2.32MRnk 22 / 101
2023
Flag → Flag
Top Product $843kOther Processed Fruits and Nuts
2023
Flag
Economic Complexity (ECI) ECI 0.47Rnk 44 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.32Rnk 123 / 132
2023
Flag  
GDP$485BCURRENT US$
Rnk 31 / 195
2013-2023
Flag
GDP GROWTH-7.74%CURRENT US$
Rnk 180 / 195
2023
Flag
 GDP$20.3BCURRENT US$
Rnk 120 / 195
2013-2023
Flag
GDP GROWTH61.5%CURRENT US$
Rnk 51 / 195
2023
Flag
GDP PC $87,925CURRENT US$
Rnk 7 / 195
2013-2023
Flag
GDP PC GROWTH-15.1%CURRENT US$
Rnk 171 / 195
2023
Flag
GDP PC$5,839CURRENT US$
Rnk 116 / 196
2013-2023
Flag
GDP PC GROWTH34.5%CURRENT US$
Rnk 70 / 195

About

Norway-Mongolia Trade: In 2023, Norway exported $397k to Mongolia. The main products that Norway exported to Mongolia were Microphones and Headphones ($130k), Other Footwear ($109k), and Fish Fillets ($47.3k). Over the past 5 years the exports of Norway to Mongolia have decreased at an annualized rate of 17.7%, from $1.05M in 2018 to $397k in 2023.

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

Mongolia-Norway Trade: In 2023, Mongolia exported $2.32M to Norway. The main products that Mongolia exported to Norway were Other Processed Fruits and Nuts ($843k), Other Nuts ($779k), and Other Footwear ($183k). Over the past 5 years the exports of Mongolia to Norway have increased at an annualized rate of 25.1%,  from $758k in 2018 to $2.32M in 2023.

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

Comparison: In 2023,  Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Latest Trends

December, 2024

About

Overview In December 2024, Norway exported NOK145k and imported NOK1.95M from Mongolia, resulting in a negative trade balance of NOK1.8M. Between December 2023 and December 2024 the exports of Norway have increased by NOK77k (113%) from NOK68k to NOK145k, while imports increased by NOK239k (14%) from NOK1.71M to NOK1.95M.

Trade In December 2024, the top exports of Norway to Mongolia were Fish (not marine mammals), crustaceans, molluscs... (NOK60k), Live animals other than animals of... (NOK0), Meat and meat preparations (NOK0), Dairy products and birds' eggs (NOK0), and Cereals and cereal preparations (NOK0). In December 2024 the top imports of Norway from Mongolia were Vegetables and fruit (NOK1.06M), Footwear (NOK456k), Articles of apparel and clothing accessories (NOK94k), Miscellaneous manufactured articles, n.e.s. (NOK4k), and Manufactures of metals, n.e.s. (NOK3k).

Growth In December 2024, the increase in Norway's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Fish (not marine mammals), crustaceans, molluscs... (NOK10k or 20%). In December 2024, the increase in Norway's year-by-year imports  from Mongolia was explained primarily by an increase in product imports  in Footwear (NOK405k or 794%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (December 2023 - December 2024)NOK77k(113%)
IMPORT GROWTH (December 2023 - December 2024)NOK239k(14%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Mongolia and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Mongolia and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Norway exported $397k to Mongolia. The main products exported from Norway to Mongolia were Microphones and Headphones ($130k), Other Footwear ($109k), and Fish Fillets ($47.3k). During the last 5 years the exports of Norway to Mongolia have decreased at an annualized rate of 17.7%, from $1.05M in 2018 to $397k in 2023.

In 2018, Mongolia exported $2.32M to Norway. The main products exported from Mongolia to Norway were Other Processed Fruits and Nuts ($843k), Other Nuts ($779k), and Other Footwear ($183k). During the last 5 years the exports of Mongolia to Norway have increased at an annualized rate of 25.1%, from $758k in 2023 to $2.32M in 2018.

Exports from Norway (Flag) to Mongolia (Flag) (2023)

Exports from Mongolia (Flag) to Norway (Flag) (2023)

Market Competitiveness

Color
Norway
Top DestinationGermany$33.8B
Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from Norway than Mongolia included Germany ($33.8B), United Kingdom ($32.6B), and Sweden ($15.9B).

In 2023, countries that imported more from Mongolia than Norway included China ($13.1B) and Switzerland ($842M).

Difference in imports from Mongolia (Flag) and Norway (Flag) (2023)

Comparative Advantage Norway - Mongolia

Flow
Scale

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

During 2023, Norway had a large net trade with Mongolia in the exports of Machines ($175k), Footwear and Headwear ($109k), and Animal Products ($48.9k).

During 2018, Mongolia had a large net trade with Norway in the exports of Foodstuffs ($843k), Vegetable Products ($779k), and Textiles ($229k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Mongolia+$245kPackaged Medicaments
Top Product Potential Mongolia Norway+$167kKnit Sweaters

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

Product Space of Norway (Flag) and Mongolia (Flag) (2023)

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