Norway (NOR) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Norway-Mongolia In 2022, Norway exported $964k to Mongolia. The main products that Norway exported to Mongolia are Microphones and Headphones ($222k), Non-fillet Frozen Fish ($165k), and Packaged Medicaments ($157k). During the last 27 years the exports of Norway to Mongolia have increased at an annualized rate of 7.14%, from $150k in 1995 to $964k in 2022.

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

Mongolia-Norway In 2022, Mongolia exported $742k to Norway. The main products that Mongolia exported to Norway were Other Footwear ($313k), Knit Sweaters ($84.8k), and Central Heating Boilers ($78.2k). During the last 27 years the exports of Mongolia to Norway have increased at an annualized rate of 11.6%, from $38k in 1995 to $742k in 2022.

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

Comparison In 2022, Norway ranked 41 in the Economic Complexity Index (ECI 0.58), and 28 in total exports ($285B). That same year, Mongolia ranked 110 in the Economic Complexity Index (ECI -1.14), and 94 in total exports ($13.6B).

Latest Trends

February, 2024

About

Overview In February 2024, Norway exported NOK45k and imported NOK2.29M from Mongolia, resulting in a negative trade balance of NOK2.24M. Between February 2023 and February 2024 the exports of Norway have decreased by NOK-31k (-40.8%) from NOK76k to NOK45k, while imports increased by NOK2.19M (2.36k%) from NOK93k to NOK2.29M.

Trade In February 2024, the top exports of Norway to Mongolia were Fish (not marine mammals), crustaceans, molluscs... (NOK50k), 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 February 2024 the top imports of Norway from Mongolia were Crude animal and vegetable materials, n.e.s. (NOK323k), Articles of apparel and clothing accessories (NOK178k), Machinery specialized for particular industries (NOK153k), Footwear (NOK51k), and Textile yarn, fabrics, made-up articles, n.e.s.,... (NOK8k).

Growth In February 2024, the decrease in Norway's year-by-year exports to Mongolia was explained primarily by an decrease in product exports in . In February 2024, the increase in Norway's year-by-year imports from Mongolia was explained primarily by an increase in product imports in Articles of apparel and clothing accessories (NOK106k or 147%) and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK1k or 100%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)NOK-31k(-40.8%)

IMPORT GROWTH (February 2023 - February 2024)NOK2.19M(2.36k%)

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.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Norway exported $964k to Mongolia. The main products exported from Norway to Mongolia were Microphones and Headphones ($222k), Non-fillet Frozen Fish ($165k), and Packaged Medicaments ($157k). During the last 27 years the exports of Norway to Mongolia have increased at an annualized rate of 7.14%, from $150k in 1995 to $964k in 2022.

In 2022, Mongolia exported $742k to Norway. The main products exported from Mongolia to Norway were Other Footwear ($313k), Knit Sweaters ($84.8k), and Central Heating Boilers ($78.2k). During the last 27 years the exports of Mongolia to Norway have increased at an annualized rate of 11.6%, from $38k in 1995 to $742k in 2022.

Exports from Norway () to Mongolia () (2022)

Exports from Mongolia () to Norway () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$78.1B

Mongolia
Top DestinationChina$10.6B

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 2021, countries that imported more from Norway than Mongolia were Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2021, countries that imported more from Mongolia than Norway were China ($10.6B), Switzerland ($1.98B), and Iran ($7.39M).

Difference in imports from Mongolia () and Norway () (2022)

Comparative Advantage Norway - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Norway had a large net trade with Mongolia in the exports of Machines ($264k), Chemical Products ($256k), and Animal Products ($189k).

During 2022, Mongolia had a large net trade with Norway in the exports of Footwear and Headwear ($355k), Machines ($159k), and Textiles ($146k).

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

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Norway () to Mongolia () (2022)

Exports from Mongolia () to Norway () (2022)

Market Competitiveness

Difference in imports from Mongolia () and Norway () (2022)

Comparative Advantage Norway - Mongolia

Economic Complexity

Competitive Landscape

Product Space of Norway () and Mongolia () (2022)

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