Hungary (HUN) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Hungary-Mongolia Trade: In 2022, Hungary exported $25.7M to Mongolia. The main products that Hungary exported to Mongolia were Packaged Medicaments ($12.3M), Dairy Machinery ($4.87M), and Toilet Paper ($1.81M). Over the past 5 years the exports of Hungary to Mongolia have increased at an annualized rate of 13.8%, from $13.5M in 2017 to $25.7M in 2022.

In 2022, Hungary did not export any services to Mongolia.

Mongolia-Hungary Trade: In 2022, Mongolia exported $102k to Hungary. The main products that Mongolia exported to Hungary were Cars ($34.9k), Prefabricated Buildings ($24.7k), and Broadcasting Equipment ($12.8k). Over the past 5 years the exports of Mongolia to Hungary have decreased at an annualized rate of 13.3%, from $209k in 2017 to $102k in 2022.

In 2022, Mongolia did not export any services to Hungary.

Comparison: In 2022, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). That same year, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Hungary exported $25.7M to Mongolia. The main products exported from Hungary to Mongolia were Packaged Medicaments ($12.3M), Dairy Machinery ($4.87M), and Toilet Paper ($1.81M). During the last 5 years the exports of Hungary to Mongolia have increased at an annualized rate of 13.8%, from $13.5M in 2017 to $25.7M in 2022.

In 2017, Mongolia exported $102k to Hungary. The main products exported from Mongolia to Hungary were Cars ($34.9k), Prefabricated Buildings ($24.7k), and Broadcasting Equipment ($12.8k). During the last 5 years the exports of Mongolia to Hungary have decreased at an annualized rate of 13.3%, from $209k in 2022 to $102k in 2017.

Exports from Hungary () to Mongolia () (2022)

Exports from Mongolia () to Hungary () (2022)

Latest Data

Trade between Hungary () and Mongolia ()

Hungary Exports

Date

Mongolia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$35.5B

Mongolia
Top DestinationChina$10.6B

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

In 2022, countries that imported more from Hungary than Mongolia included Germany ($35.5B), Italy ($8.02B), and Romania ($7.94B).

In 2022, countries that imported more from Mongolia than Hungary included China ($10.6B), Switzerland ($1.98B), and Singapore ($346M).

Difference in imports from Mongolia () and Hungary () (2022)

Comparative Advantage Hungary - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Hungary had a large net trade with Mongolia in the exports of Chemical Products ($13.9M), Machines ($6.15M), and Paper Goods ($1.81M).

During 2017, Mongolia had a large net trade with Hungary in the exports of Transportation ($34.9k), Miscellaneous ($25.2k), and Machines ($13.8k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hungary Mongolia+$1.03MCars

Top Product Potential Mongolia Hungary+$91.6kCars

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

About

Historical Data

Bilateral Trade by Products

Exports from Hungary () to Mongolia () (2022)

Exports from Mongolia () to Hungary () (2022)

Latest Data

Trade between Hungary () and Mongolia ()

Hungary Exports

Mongolia Exports

Market Competitiveness

Difference in imports from Mongolia () and Hungary () (2022)

Comparative Advantage Hungary - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Hungary () and Mongolia () (2022)

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