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Pricing

2022
Flag → Flag
Exports $35.3MRnk 140 / 224
2022
Flag → Flag
Top Product $5.45MIron Railway Products
2022
Flag → Flag
Exports $19.4MRnk 11 / 113
2022
Flag → Flag
Top Product $7.13MPrepared Wool or Animal Hair
2022
Flag
Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.26Rnk 120 / 133
2022
Flag  
GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
Flag
 GDP$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
GDP PC $45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186
2022
Flag
GDP PC$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH12.4%CURRENT US$
Rnk 107 / 186

About

United Kingdom-Mongolia Trade: In 2022, United Kingdom exported $35.3M to Mongolia. The main products that United Kingdom exported to Mongolia were Iron Railway Products ($5.45M), Hard Liquor ($3.85M), and Cars ($3.45M). Over the past 5 years the exports of United Kingdom to Mongolia have increased at an annualized rate of 3.21%, from $30.1M in 2017 to $35.3M in 2022.

In 2022, United Kingdom did not export any services to Mongolia.

Mongolia-United Kingdom Trade: In 2022, Mongolia exported $19.4M to United Kingdom. The main products that Mongolia exported to United Kingdom were Prepared Wool or Animal Hair ($7.13M), Animal Hair ($6.3M), and Knit Sweaters ($3.06M). Over the past 5 years the exports of Mongolia to United Kingdom have decreased at an annualized rate of 39.6%,  from $663M in 2017 to $19.4M in 2022.

In 2022, Mongolia did not export any services to United Kingdom.

Comparison: In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Latest Trends

June, 2024

About

Overview In June 2024, United Kingdom exported £1.69M and imported £240k from Mongolia, resulting in a positive trade balance of £1.45M. Between June 2023 and June 2024 the exports of United Kingdom have decreased by £-136k (-7.45%) from £1.83M to £1.69M, while imports decreased by £-426k (-64%) from £666k to £240k.

Trade In June 2024, the top exports of United Kingdom to Mongolia were Cars (£1.5M), Prepr binder for foundry (£116k), Baked Goods (£79.5k), Commodities not elsewhere specified (£50.8k), and Aircraft parts including unmanned craft (£49.2k). In June 2024 the top imports of United Kingdom from Mongolia were Knit Sweaters (£270k), Other Furniture (£15.9k), Sunflower Seeds (£14.1k), Blankets (£12.6k), and Knit Women's Suits (£12.1k).

Origins In June 2024 the exports of United Kingdom were mainly from London Heathrow Airport (£673k), Southampton (£430k), Dover Eurotunnel (£284k), East Midlands Airport (£193k), and Dover (£55.9k), while imports destinations were mainly London Heathrow Airport (£228k) and East Midlands Airport (£8.2k).

Growth In June 2024, the decrease in United Kingdom's year-by-year exports to Mongolia was explained primarily by an decrease in product exports in Chemical Analysis Instruments (£-119k or -96.3%), Telephones (£-80.7k or -91.8%), and Excavation Machinery (£-15.4k or -41%). In June 2024, the decrease in United Kingdom's year-by-year imports  from Mongolia was explained primarily by an decrease in product imports  in Non-Knit Women's Suits (£-5.97k or -62.5%) and Knit Gloves (£-2.19k or -71.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (June 2023 - June 2024)£-136k(-7.45%)
IMPORT GROWTH (June 2023 - June 2024)£-426k(-64%)
MAIN EXPORTER (June 2024)London Heathrow Airport£673k

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Mongolia and United Kingdom trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Mongolia and United Kingdom Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United Kingdom exported $35.3M to Mongolia. The main products exported from United Kingdom to Mongolia were Iron Railway Products ($5.45M), Hard Liquor ($3.85M), and Cars ($3.45M). During the last 5 years the exports of United Kingdom to Mongolia have increased at an annualized rate of 3.21%, from $30.1M in 2017 to $35.3M in 2022.

In 2017, Mongolia exported $19.4M to United Kingdom. The main products exported from Mongolia to United Kingdom were Prepared Wool or Animal Hair ($7.13M), Animal Hair ($6.3M), and Knit Sweaters ($3.06M). During the last 5 years the exports of Mongolia to United Kingdom have decreased at an annualized rate of 39.6%, from $663M in 2022 to $19.4M in 2017.

Exports from United Kingdom (Flag) to Mongolia (Flag) (2022)

Exports from Mongolia (Flag) to United Kingdom (Flag) (2022)

Market Competitiveness

Color
United Kingdom
Top DestinationN/AN/A
Mongolia
Top DestinationN/AN/A

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

N/A

N/A

Difference in imports from Mongolia (Flag) and United Kingdom (Flag) (2022)

Comparative Advantage United Kingdom - Mongolia

Flow
Scale

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

During 2022, United Kingdom had a large net trade with Mongolia in the exports of Machines ($8.59M), Foodstuffs ($6.95M), and Metals ($6.37M).

During 2017, Mongolia had a large net trade with United Kingdom in the exports of Textiles ($18.3M), Vegetable Products ($474k), and Machines ($223k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom Mongolia+$5.69MCars
Top Product Potential Mongolia United Kingdom+$1.92MKnit 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

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

Product Space of United Kingdom (Flag) and Mongolia (Flag) (2022)

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