2022
Exports
$10.6BWorld Rnk 51 / 220
Flag Rnk 1 / 21
2022
PRODUCT COMPLEXITY IN Mineral Products
0.48Rnk 371 / 1025
2022
Imports
$1.77BWorld Rnk 112 / 226
Flag Rnk 1 / 21
2022
ECONOMIC COMPLEXITY of Mongolia
-1.26Rnk 120 / 133

About

Exports In 2022, Mongolia exported $10.6B in Mineral Products, making it the 51st largest exporter of Mineral Products in the world. At the same year, Mineral Products was the 1st most exported product in Mongolia. The main destination of Mineral Products exports from Mongolia are: China ($9.95B), Singapore ($337M), South Korea ($160M), Russia ($53.5M), and Thailand ($32.6M).

The fastest growing export markets for Mineral Products of Mongolia between 2021 and 2022 were China ($2.87B), South Korea ($107M), and Singapore ($90.2M).

Imports In 2022, Mongolia imported $1.77B in Mineral Products, becoming the 112th largest importer of Mineral Products in the world. At the same year, Mineral Products was the 1st most imported product in Mongolia. Mongolia imports Mineral Products primarily from: Russia ($1.52B), China ($184M), South Korea ($24.8M), Singapore ($17.8M), and Lithuania ($5.04M).

The fastest growing import markets in Mineral Products for Mongolia between 2021 and 2022 were Russia ($578M), Singapore ($5.37M), and Belarus ($3.09M).

Latest Trends

Jul 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Mineral Products. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$10.6B
IMPORTS (2022)$1.77B
NET TRADE (2022)$8.8B

In 2022, Mongolia exported $10.6B in Mineral Products. The main destinations of Mongolia exports on Mineral Products were China ($9.95B), Singapore ($337M), South Korea ($160M), Russia ($53.5M), and Thailand ($32.6M).

In 2022, Mongolia imported $1.77B in Mineral Products, mainly from Russia ($1.52B), China ($184M), South Korea ($24.8M), Singapore ($17.8M), and Lithuania ($5.04M).

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Export Destinations (NaN)

Import Origins (NaN)

Market Growth

Flow
THE FASTEST GROWING Mineral Products EXPORT MARKETS FOR Mongolia WERE (2021 - 2022):
China$2.87B (40.6%)
South Korea$107M (206%)
Singapore$90.2M (36.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral Products BY Mongolia WERE (2021 - 2022):
Russia-$47.9M (-47.2%)
Thailand-$1.69M (-4.92%)
Belgium-$1.3M (-21.7%)

Change in Exports by Market (undefined - undefined)

Market Concentration

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Flow
Type
In 2022, Mongolia's main exporting competitors in Mineral Products were:
In 2022, Mongolia's main importing competitors in Mineral Products were:

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Trade Value of Mineral Products by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALChina+ $1.21B
TOP IMPORT POTENTIALSouth Korea+ $24.6M

Mineral Products’s highest export potential is China. With an export gap of $1.21B.   Mineral Products’s highest import potential is South Korea with an import gap of $24.6M.

See methodology.

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