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

About

Singapore-Mongolia Trade: In 2023, Singapore exported $171M to Mongolia. The main products that Singapore exported to Mongolia were Broadcasting Equipment ($38.8M), Refined Petroleum ($18.6M), and Transmissions ($9.84M). Over the past 5 years the exports of Singapore to Mongolia have increased at an annualized rate of 25.4%, from $55.1M in 2018 to $171M in 2023.

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

Mongolia-Singapore Trade: In 2023, Mongolia exported $306k to Singapore. The main products that Mongolia exported to Singapore were Centrifuges ($99.8k), Office Machine Parts ($37.2k), and Knit Sweaters ($35k). Over the past 5 years the exports of Mongolia to Singapore have decreased at an annualized rate of 60%, from $29.9M in 2018 to $306k in 2023.

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

Comparison: In 2023, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Singapore exported $171M to Mongolia. The main products exported from Singapore to Mongolia were Broadcasting Equipment ($38.8M), Refined Petroleum ($18.6M), and Transmissions ($9.84M). During the last 5 years the exports of Singapore to Mongolia have increased at an annualized rate of 25.4%, from $55.1M in 2018 to $171M in 2023.

In 2018, Mongolia exported $306k to Singapore. The main products exported from Mongolia to Singapore were Centrifuges ($99.8k), Office Machine Parts ($37.2k), and Knit Sweaters ($35k). During the last 5 years the exports of Mongolia to Singapore have decreased at an annualized rate of 60%, from $29.9M in 2023 to $306k in 2018.

Exports from Singapore () to Mongolia () (2023)

Exports from Mongolia () to Singapore () (2023)

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$44.5B

Mongolia
Top DestinationChina$13.1B

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 2023, countries that imported more from Singapore than Mongolia included Hong Kong ($44.5B), United States ($32.9B), and Malaysia ($31.4B).

In 2023, no countries were registered that imported more from Mongolia than from Singapore.

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

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 2023, Singapore had a large net trade with Mongolia in the exports of Machines ($113M), Mineral Products ($18.6M), and Foodstuffs ($13.6M).

During 2018, Mongolia had a large net trade with Singapore in the exports of Machines ($223k), Textiles ($49.5k), and Foodstuffs ($9.25k).

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

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.

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Mongolia () (2023)

Exports from Mongolia () to Singapore () (2023)

Latest Data

Trade between Singapore () and Mongolia ()

Singapore Exports

Mongolia Exports

Market Competitiveness

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

Comparative Advantage Singapore - Mongolia

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring