Armenia (ARM) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Armenia-Mongolia Trade: In 2023, Armenia exported $516k to Mongolia. The main products that Armenia exported to Mongolia were Hard Liquor ($235k), Chocolate ($116k), and Rolled Tobacco ($110k). Over the past 5 years the exports of Armenia to Mongolia have increased at an annualized rate of 28.6%, from $147k in 2018 to $516k in 2023.

In 2023, Armenia did not export any services to Mongolia.

Mongolia-Armenia Trade: In 2023, Mongolia exported $8.12k to Armenia. The main products that Mongolia exported to Armenia were Knit Women's Suits ($4.27k), Knit Sweaters ($2.83k), and Blankets ($1.02k). Over the past 5 years the exports of Mongolia to Armenia have decreased at an annualized rate of 65.1%, from $1.56M in 2018 to $8.12k in 2023.

In 2023, Mongolia did not export any services to Armenia.

Comparison: In 2023, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Armenia exported $516k to Mongolia. The main products exported from Armenia to Mongolia were Hard Liquor ($235k), Chocolate ($116k), and Rolled Tobacco ($110k). During the last 5 years the exports of Armenia to Mongolia have increased at an annualized rate of 28.6%, from $147k in 2018 to $516k in 2023.

In 2018, Mongolia exported $8.12k to Armenia. The main products exported from Mongolia to Armenia were Knit Women's Suits ($4.27k), Knit Sweaters ($2.83k), and Blankets ($1.02k). During the last 5 years the exports of Mongolia to Armenia have decreased at an annualized rate of 65.1%, from $1.56M in 2023 to $8.12k in 2018.

Exports from Armenia () to Mongolia () (2023)

Exports from Mongolia () to Armenia () (2023)

Latest Data

Trade between Armenia () and Mongolia ()

Armenia Exports

Date

Mongolia Exports

Date

Mar 2019

Jul 2018

Jun 2018

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Armenia
Top DestinationRussia$3.38B

Mongolia
Top DestinationChina$13.1B

This map shows whether countries import more from Armenia or Mongolia. Each country is colored based on the difference in imports they receive from Armenia and Mongolia or the difference in the growth in imports.

In 2023, countries that imported more from Armenia than Mongolia included Russia ($3.38B), United Arab Emirates ($2.25B), and Hong Kong ($669M).

In 2023, countries that imported more from Mongolia than Armenia included China ($13.1B), Switzerland ($842M), and Thailand ($67.1M).

Difference in imports from Mongolia () and Armenia () (2023)

Comparative Advantage Armenia - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Armenia and Mongolia by product, considering products traded by both, Armenia and Mongolia.

During 2023, Armenia had a large net trade with Mongolia in the exports of Foodstuffs ($475k), Miscellaneous ($35k), and Instruments ($5.55k).

During 2018, Mongolia had a large net trade with Armenia in the exports of Textiles ($8.12k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Armenia Mongolia+$202kHard Liquor

Top Product Potential Mongolia Armenia+$8.81kEngine Parts

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Armenia and Mongolia. This means that a dot/product with the flag of Armenia indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over Armenia.

About

Historical Data

Bilateral Trade by Products

Exports from Armenia () to Mongolia () (2023)

Exports from Mongolia () to Armenia () (2023)

Latest Data

Trade between Armenia () and Mongolia ()

Armenia Exports

Mongolia Exports

Market Competitiveness

Difference in imports from Mongolia () and Armenia () (2023)

Comparative Advantage Armenia - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Armenia () and Mongolia () (2023)

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