2022
Exports
$57.7kWorld Rnk 121 / 200
Flag Rnk 66 / 92
2022
PRODUCT COMPLEXITY IN Musical instruments
1.43Rnk 66 / 1025
2022
Imports
$2.23MWorld Rnk 96 / 224
Flag Rnk 74 / 96
2022
ECONOMIC COMPLEXITY of Mongolia
-1.26Rnk 120 / 133

About

Exports In 2022, Mongolia exported $57.7k in Musical instruments, making it the 121st largest exporter of Musical instruments in the world. At the same year, Musical instruments was the 66th most exported product in Mongolia. The main destination of Musical instruments exports from Mongolia are: United States ($19.8k), South Korea ($12.8k), Japan ($7.82k), France ($5.17k), and Germany ($1.95k).

The fastest growing export markets for Musical instruments of Mongolia between 2021 and 2022 were South Korea ($10.6k), United States ($10.2k), and Japan ($7.75k).

Imports In 2022, Mongolia imported $2.23M in Musical instruments, becoming the 96th largest importer of Musical instruments in the world. At the same year, Musical instruments was the 74th most imported product in Mongolia. Mongolia imports Musical instruments primarily from: China ($511k), Indonesia ($474k), Malaysia ($323k), Japan ($212k), and United States ($142k).

The fastest growing import markets in Musical instruments for Mongolia between 2021 and 2022 were China ($219k), Indonesia ($161k), and Switzerland ($139k).

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 Musical instruments. 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)$57.7k
IMPORTS (2022)$2.23M
NET TRADE (2022)-$2.17M

In 2022, Mongolia exported $57.7k in Musical instruments. The main destinations of Mongolia exports on Musical instruments were United States ($19.8k), South Korea ($12.8k), Japan ($7.82k), France ($5.17k), and Germany ($1.95k).

In 2022, Mongolia imported $2.23M in Musical instruments, mainly from China ($511k), Indonesia ($474k), Malaysia ($323k), Japan ($212k), and United States ($142k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Musical instruments EXPORT MARKETS FOR Mongolia WERE (2021 - 2022):
South Korea$10.6k (482%)
United States$10.2k (107%)
Japan$7.75k (11.1k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Musical instruments BY Mongolia WERE (2021 - 2022):
China-$9.59k (-98.2%)
Belgium-$9.05k (-82.4%)
Spain-$1.59k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Mongolia's main exporting competitors in Musical instruments were:
China $2.53B
Germany $1.01B
In 2022, Mongolia's main importing competitors in Musical instruments were:

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Trade Value of Musical instruments by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALUnited States+ $28.8k
TOP IMPORT POTENTIALChina+ $413k

Musical instruments’s highest export potential is United States. With an export gap of $28.8k.   Musical instruments’s highest import potential is China with an import gap of $413k.

See methodology.

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