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2023
Flag → Flag
Exports $24.8MRnk 152 / 223
2023
Flag → Flag
Top Product $9.92MCars
2023
Flag → Flag
Exports $11.2MRnk 10 / 101
2023
Flag → Flag
Top Product $7.13MAnimal Hair
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 11 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.32Rnk 123 / 132
2023
Flag  
GDP$3.38TCURRENT US$
Rnk 6 / 195
2013-2023
Flag
GDP GROWTH21.4%CURRENT US$
Rnk 136 / 195
2023
Flag
 GDP$20.3BCURRENT US$
Rnk 120 / 195
2013-2023
Flag
GDP GROWTH61.5%CURRENT US$
Rnk 51 / 195
2023
Flag
GDP PC $49,464CURRENT US$
Rnk 26 / 195
2013-2023
Flag
GDP PC GROWTH13.9%CURRENT US$
Rnk 124 / 195
2023
Flag
GDP PC$5,839CURRENT US$
Rnk 116 / 196
2013-2023
Flag
GDP PC GROWTH34.5%CURRENT US$
Rnk 70 / 195

About

United Kingdom-Mongolia Trade: In 2023, United Kingdom exported $24.8M to Mongolia. The main products that United Kingdom exported to Mongolia were Cars ($9.92M), Jewellery ($1.3M), and Combustion Engines ($1.08M). Over the past 5 years the exports of United Kingdom to Mongolia have decreased at an annualized rate of 6.39%, from $34.5M in 2018 to $24.8M in 2023.

In 2023, United Kingdom did not export any services to Mongolia.

Mongolia-United Kingdom Trade: In 2023, Mongolia exported $11.2M to United Kingdom. The main products that Mongolia exported to United Kingdom were Animal Hair ($7.13M), Knit Sweaters ($2.46M), and Prefabricated Buildings ($198k). Over the past 5 years the exports of Mongolia to United Kingdom have decreased at an annualized rate of 42%,  from $170M in 2018 to $11.2M in 2023.

In 2023, Mongolia did not export any services to United Kingdom.

Comparison: In 2023,  United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Latest Trends

December, 2024

About

Overview In December 2024, United Kingdom exported £1.46M and imported £207k from Mongolia, resulting in a positive trade balance of £1.26M. Between December 2023 and December 2024 the exports of United Kingdom have increased by £669k (84.3%) from £794k to £1.46M, while imports decreased by £-784k (-79.1%) from £991k to £207k.

Trade In December 2024, the top exports of United Kingdom to Mongolia were Combustion Engines (£612k), Electric Motors (£324k), Chemical Analysis Instruments (£89.4k), Aircraft parts for spacecraft, UAVs, and... (£68.4k), and Refined Petroleum (£61.3k). In December 2024 the top imports of United Kingdom from Mongolia were Blankets (£19k), Valves (£14.1k), Computers (£12.4k), Low-voltage Protection Equipment (£11.9k), and Bedspreads (£7.99k).

Origins In December 2024 the exports of United Kingdom were mainly from London Heathrow Airport (£1M), East Midlands Airport (£159k), Dover Eurotunnel (£156k), Southampton (£120k), and Aberdeen Airport (£7.49k), while imports destinations were mainly London Heathrow Airport (£181k) and East Midlands Airport (£13k).

Growth In December 2024, the increase in United Kingdom's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Chemical Analysis Instruments (£84.9k or 1.87k%), Other Edible Preparations (£21.4k or 81.1%), and Aircraft parts for spacecraft, UAVs, and... (£19.2k or 39%). In December 2024, the decrease in United Kingdom's year-by-year imports  from Mongolia was explained primarily by an decrease in product imports  in Knit Sweaters (£-265k or -98.1%), Knit Women's Suits (£-11.1k or -91.3%), and Other Knit Clothing Accessories (£-10.2k or -87.4%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (December 2023 - December 2024)£669k(84.3%)
IMPORT GROWTH (December 2023 - December 2024)£-784k(-79.1%)
MAIN EXPORTER (December 2024)London Heathrow Airport£1M

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 2023, United Kingdom exported $24.8M to Mongolia. The main products exported from United Kingdom to Mongolia were Cars ($9.92M), Jewellery ($1.3M), and Combustion Engines ($1.08M). During the last 5 years the exports of United Kingdom to Mongolia have decreased at an annualized rate of 6.39%, from $34.5M in 2018 to $24.8M in 2023.

In 2018, Mongolia exported $11.2M to United Kingdom. The main products exported from Mongolia to United Kingdom were Animal Hair ($7.13M), Knit Sweaters ($2.46M), and Prefabricated Buildings ($198k). During the last 5 years the exports of Mongolia to United Kingdom have decreased at an annualized rate of 42%, from $170M in 2023 to $11.2M in 2018.

Exports from United Kingdom (Flag) to Mongolia (Flag) (2023)

Exports from Mongolia (Flag) to United Kingdom (Flag) (2023)

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$59.7B
Mongolia
Top DestinationChina$13.1B

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.

In 2023, countries that imported more from United Kingdom than Mongolia included United States ($59.7B), Germany ($34.6B), and Netherlands ($29.8B).

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

Difference in imports from Mongolia (Flag) and United Kingdom (Flag) (2023)

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 2023, United Kingdom had a large net trade with Mongolia in the exports of Transportation ($11.1M), Machines ($5.61M), and Instruments ($1.44M).

During 2018, Mongolia had a large net trade with United Kingdom in the exports of Textiles ($10.6M), Miscellaneous ($211k), and Machines ($122k).

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) (2023)

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