Overview: This page contains the latest international trade data for Mongolia, including service trade data, and tariffs. In 2018 Mongolia was the number 133 economy in the world in terms of GDP (current US$), the number 99 in total exports, the number 126 in total imports, and the number 106 most complex economy according to the Economic Complexity Index (ECI). In 2018, Mongolia exported $7.71B and imported $5.76B, resulting in a positive trade balance of $1.95B. In 2018, Mongolia's exports per capita were $2.43k and its imports per capita were $1.82k.
In 2018 Mongolia exported a total of $7.71B, making it the number 99 exporter in the world. During the last five reported years the exports of Mongolia have changed by $3.11B from $4.59B in 2013 to $7.71B in 2018.
In 2018 Mongolia imported $5.76B, making it the number 126 trade destination in the world. During the last five reported years the imports of Mongolia changed by -$745M from $6.5B in 2013 to $5.76B in 2018.
In 2018, Mongolia exported $1.1B worth of services. The top services exported by Mongolia in 2018 were Personal travel ($401M), Air transport ($203M), Miscellaneous business, professional, and technical services ($196M), Other transport ($151M), and Business travel ($44.3M).
The top services imported by Mongolia in 2018 were Personal travel ($852M), Miscellaneous business, professional, and technical services ($789M), Other transport ($761M), Construction in the compiling economy ($207M), and Air transport ($154M).
This section shows forecasts for total product exports and imports for Mongolia. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
During the last 12 years Mongolia's economy has become relatively more complex, moving from the 116th to the 106th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Mongolia has a high level of specialization in Animal Hair (699), Horse Meat (300), Feldspar (296), Copper Ore (74.8), and Coal Briquettes (46.7). Specialization is measured using RCA, an index that takes the ratio between Mongolia observed and expected exports in each product.
The top export opportunities for Mongolia according to the relatedness index, are Uranium and Thorium Ore (0.088), Other Ores (0.079), Manganese Ore (0.075), Chromium Ore (0.073), and Maté (0.07). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Mongolia is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Mongolia
