Singapore (SGP) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Singapore-Mongolia Trade: In 2022, Singapore exported $58.8M to Mongolia. The main products that Singapore exported to Mongolia were Refined Petroleum ($17.8M), Hard Liquor ($5.32M), and Computers ($4.13M). Over the past 5 years the exports of Singapore to Mongolia have increased at an annualized rate of 9.46%, from $37.4M in 2017 to $58.8M in 2022.

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

Mongolia-Singapore Trade: In 2022, Mongolia exported $346M to Singapore. The main products that Mongolia exported to Singapore were Coal Briquettes ($337M), Motor vehicles; parts and accessories (8701 to 8705) ($1.89M), and Combustion Engines ($920k). Over the past 5 years the exports of Mongolia to Singapore have increased at an annualized rate of 67%, from $26.6M in 2017 to $346M in 2022.

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

Comparison: In 2022, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). That same year, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Singapore exported $58.8M to Mongolia. The main products exported from Singapore to Mongolia were Refined Petroleum ($17.8M), Hard Liquor ($5.32M), and Computers ($4.13M). During the last 5 years the exports of Singapore to Mongolia have increased at an annualized rate of 9.46%, from $37.4M in 2017 to $58.8M in 2022.

In 2017, Mongolia exported $346M to Singapore. The main products exported from Mongolia to Singapore were Coal Briquettes ($337M), Motor vehicles; parts and accessories (8701 to 8705) ($1.89M), and Combustion Engines ($920k). During the last 5 years the exports of Mongolia to Singapore have increased at an annualized rate of 67%, from $26.6M in 2022 to $346M in 2017.

Exports from Singapore () to Mongolia () (2022)

Exports from Mongolia () to Singapore () (2022)

Latest Data

Trade between Singapore () and Mongolia ()

Singapore Exports

Date

Mongolia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$51.6B

Mongolia
Top DestinationChina$10.6B

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

In 2022, countries that imported more from Singapore than Mongolia included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

In 2022, countries that imported more from Mongolia than Singapore included Kyrgyzstan ($2.34M).

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

Comparative Advantage Singapore - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Singapore had a large net trade with Mongolia in the exports of Machines ($20.4M), Mineral Products ($17.8M), and Foodstuffs ($9.06M).

During 2017, Mongolia had a large net trade with Singapore in the exports of Mineral Products ($337M), Machines ($5.32M), and Transportation ($2.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Singapore Mongolia+$17.1MRefined Petroleum

Top Product Potential Mongolia Singapore+$161kTelephones

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

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Historical Data

Bilateral Trade by Products

Exports from Singapore () to Mongolia () (2022)

Exports from Mongolia () to Singapore () (2022)

Latest Data

Trade between Singapore () and Mongolia ()

Singapore Exports

Mongolia Exports

Market Competitiveness

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

Comparative Advantage Singapore - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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