Denmark (DNK) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Denmark-Mongolia Trade: In 2023, Denmark exported $5.51M to Mongolia. The main products that Denmark exported to Mongolia were Cheese ($1.55M), Liquid Pumps ($541k), and Broadcasting Equipment ($480k). Over the past 5 years the exports of Denmark to Mongolia have decreased at an annualized rate of 23.2%, from $20.7M in 2018 to $5.51M in 2023.

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

Mongolia-Denmark Trade: In 2023, Mongolia exported $118k to Denmark. The main products that Mongolia exported to Denmark were Knit Sweaters ($30.7k), Electric Motor Parts ($18.1k), and Other Iron Products ($11.5k). Over the past 5 years the exports of Mongolia to Denmark have increased at an annualized rate of 22%, from $43.7k in 2018 to $118k in 2023.

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

Comparison: In 2023, Denmark ranked 22 in the Economic Complexity Index (ECI 1.13), and 37 in total exports ($118B). 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, Denmark exported $5.51M to Mongolia. The main products exported from Denmark to Mongolia were Cheese ($1.55M), Liquid Pumps ($541k), and Broadcasting Equipment ($480k). During the last 5 years the exports of Denmark to Mongolia have decreased at an annualized rate of 23.2%, from $20.7M in 2018 to $5.51M in 2023.

In 2018, Mongolia exported $118k to Denmark. The main products exported from Mongolia to Denmark were Knit Sweaters ($30.7k), Electric Motor Parts ($18.1k), and Other Iron Products ($11.5k). During the last 5 years the exports of Mongolia to Denmark have increased at an annualized rate of 22%, from $43.7k in 2023 to $118k in 2018.

Exports from Denmark () to Mongolia () (2023)

Exports from Mongolia () to Denmark () (2023)

Latest Data

Trade between Denmark () and Mongolia ()

Denmark Exports

Date

Mongolia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Denmark
Top DestinationGermany$14.8B

Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from Denmark than Mongolia included Germany ($14.8B), United States ($12B), and Sweden ($11.2B).

In 2023, countries that imported more from Mongolia than Denmark included China ($13.1B).

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

Comparative Advantage Denmark - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Denmark had a large net trade with Mongolia in the exports of Machines ($1.82M), Animal Products ($1.73M), and Chemical Products ($572k).

During 2018, Mongolia had a large net trade with Denmark in the exports of Textiles ($62.7k), Machines ($28.6k), and Metals ($11.5k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Denmark Mongolia+$1.43MPackaged Medicaments

Top Product Potential Mongolia Denmark+N/AN/A

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

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Historical Data

Bilateral Trade by Products

Exports from Denmark () to Mongolia () (2023)

Exports from Mongolia () to Denmark () (2023)

Latest Data

Trade between Denmark () and Mongolia ()

Denmark Exports

Mongolia Exports

Market Competitiveness

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

Comparative Advantage Denmark - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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