2023
Exports
$12.5BWorld Rnk 44 / 224
Flag Rnk 1 / 20
2023
PRODUCT COMPLEXITY IN Mineral Products
0.38Rnk 423 / 1025
2023
Imports
$310MWorld Rnk 154 / 226
Flag Rnk 6 / 21
2023
ECONOMIC COMPLEXITY of Mongolia
-1.32Rnk 123 / 132

About

Exports In 2023, Mongolia exported $12.5B in Mineral Products, making it the 44th 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 ($12.4B), Thailand ($67M), Finland ($22.7M), Indonesia ($5.72M), and Japan ($5.05M).

The fastest growing export markets for Mineral Products of Mongolia between 2022 and 2023 were China ($3.01B), Thailand ($34.9M), and Finland ($13.3M).

Imports In 2023, Mongolia imported $310M in Mineral Products, becoming the 154th largest importer of Mineral Products in the world. At the same year, Mineral Products was the 6th most imported product in Mongolia. Mongolia imports Mineral Products primarily from: China ($258M), Singapore ($18.6M), Australia ($10.1M), Belgium ($5.27M), and Lithuania ($4.38M).

The fastest growing import markets in Mineral Products for Mongolia between 2022 and 2023 were China ($78.9M), Australia ($10.1M), and Belgium ($4.73M).

Latest Trends

Dec 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 (2023)$12.5B
IMPORTS (2023)$310M
NET TRADE (2023)$12.2B

In 2023, Mongolia exported $12.5B in Mineral Products. The main destinations of Mongolia exports on Mineral Products were China ($12.4B), Thailand ($67M), Finland ($22.7M), Indonesia ($5.72M), and Japan ($5.05M).

In 2023, Mongolia imported $310M in Mineral Products, mainly from China ($258M), Singapore ($18.6M), Australia ($10.1M), Belgium ($5.27M), and Lithuania ($4.38M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Mineral Products EXPORT MARKETS FOR Mongolia WERE (2022 - 2023):
China$3.01B (32.1%)
Thailand$34.9M (109%)
Finland$13.3M (141%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral Products BY Mongolia WERE (2022 - 2023):
Singapore-$337M (-100%)
South Korea-$160M (-100%)
Russia-$53.5M (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Mongolia's main exporting competitors in Mineral Products were:
In 2023, 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
View
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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