Australia (AUS) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Australia-Mongolia Trade: In 2023, Australia exported $32.5M to Mongolia. The main products that Australia exported to Mongolia were Zinc Ore ($10.1M), Liquid Pumps ($3.28M), and Excavation Machinery ($1.72M). Over the past 5 years the exports of Australia to Mongolia have decreased at an annualized rate of 8.64%, from $51M in 2018 to $32.5M in 2023.

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

Mongolia-Australia Trade: In 2023, Mongolia exported $575k to Australia. The main products that Mongolia exported to Australia were N/A. Over the past 5 years the exports of Mongolia to Australia have decreased at an annualized rate of 16.2%, from $1.39M in 2018 to $575k in 2023.

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

Comparison: In 2023, Australia ranked 75 in the Economic Complexity Index (ECI -0.28), and 20 in total exports ($374B). 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, Australia exported $32.5M to Mongolia. The main products exported from Australia to Mongolia were Zinc Ore ($10.1M), Liquid Pumps ($3.28M), and Excavation Machinery ($1.72M). During the last 5 years the exports of Australia to Mongolia have decreased at an annualized rate of 8.64%, from $51M in 2018 to $32.5M in 2023.

In 2018, Mongolia exported $575k to Australia. There were not main exports from Mongolia to Australia in 2018. During the last 5 years the exports of Mongolia to Australia have decreased at an annualized rate of 16.2%, from $1.39M in 2023 to $575k in 2018.

Exports from Australia () to Mongolia () (2023)

Exports from Mongolia () to Australia () (2023)

Latest Data

Trade between Australia () and Mongolia ()

Australia Exports

Date

Mongolia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Australia
Top DestinationChina$137B

Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from Australia than Mongolia included China ($137B), Japan ($59B), and South Korea ($20.9B).

In 2023, no countries were registered that imported more from Mongolia than from Australia.

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

Comparative Advantage Australia - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Australia had a large net trade with Mongolia in the exports of Machines ($12.5M), Mineral Products ($10.1M), and Metals ($2.86M).

During 2018, Mongolia had a large net trade with Australia in the exports of Textiles ($196k), Miscellaneous ($176k), and Machines ($63.9k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Australia Mongolia+$611kTelephones

Top Product Potential Mongolia Australia+$192kKnit Sweaters

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 Australia and Mongolia. This means that a dot/product with the flag of Australia indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over Australia.

About

Historical Data

Bilateral Trade by Products

Exports from Australia () to Mongolia () (2023)

Exports from Mongolia () to Australia () (2023)

Latest Data

Trade between Australia () and Mongolia ()

Australia Exports

Mongolia Exports

Market Competitiveness

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

Comparative Advantage Australia - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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