Mongolia
2021 Economic Complexity Trade : -1.23, Rank 117 of 131
2021 Economic Complexity Technology : -1.74, Rank 93 of 96
Overview In 2021, Mongolia was the number N/A economy in the world in terms of GDP (current US$), the number 95 in total exports, the number 129 in total imports, the number N/A economy in terms of GDP per capita (current US$) and the number 117 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Mongolia are Copper Ore ($2.9B), Coal Briquettes ($2.74B), Gold ($2.11B), Iron Ore ($945M), and Animal Hair ($325M), exporting mostly to N/A.
In 2021, Mongolia was the world's biggest exporter of Animal Hair ($325M)
Imports The top imports of Mongolia are Refined Petroleum ($1.01B), Cars ($420M), Delivery Trucks ($303M), Trailers and semi-trailers, not mechanically propelled vehicles ($204M), and Electricity ($161M), importing mostly from N/A.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Mongolia.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Economic Complexity
#permalink to sectionOverview
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionMongolia has a high level of specialization in N/A. Specialization is measured using RCA, an index that takes the ratio between Mongolia observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Mongolia according to the product complexity index (PCI) are N/A. PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Mongolia according to the relatedness index, were Tin Ores (0.069), Chromium Ore (0.06), Uranium and Thorium Ore (0.058), Raw Copper (0.056), and Manganese Ore (0.056). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Mongolia is not specialized in.
Product Space
#permalink to sectionThe 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 a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
Economic Complexity Ranking
#permalink to sectionDuring the last 20 years Mongolia's economy has become relatively more complex, moving from the N/A to the 117th 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.
