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2023
Flag → Flag
Exports $36.5MRnk 163 / 220
2023
Flag → Flag
Top Product $12.1MDelivery Trucks
2023
Flag → Flag
Exports $988kRnk 27 / 101
2023
Flag → Flag
Top Product $449kPrepared Wool or Animal Hair
2023
Flag
Economic Complexity (ECI) ECI 0.65Rnk 39 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.32Rnk 123 / 132
2023
Flag  
GDP$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
Flag
GDP GROWTH92.1%CURRENT US$
Rnk 19 / 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 $2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH73.1%CURRENT US$
Rnk 22 / 195
2023
Flag
GDP PC$5,839CURRENT US$
Rnk 116 / 196
2013-2023
Flag
GDP PC GROWTH34.5%CURRENT US$
Rnk 70 / 195

About

India-Mongolia Trade: In 2023, India exported $36.5M to Mongolia. The main products that India exported to Mongolia were Delivery Trucks ($12.1M), Packaged Medicaments ($5.66M), and Baked Goods ($2.65M). Over the past 5 years the exports of India to Mongolia have decreased at an annualized rate of 7.14%, from $52.9M in 2018 to $36.5M in 2023.

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

Mongolia-India Trade: In 2023, Mongolia exported $988k to India. The main products that Mongolia exported to India were Prepared Wool or Animal Hair ($449k), Animal Hair ($171k), and Tanned Equine and Bovine Hides ($125k). Over the past 5 years the exports of Mongolia to India have decreased at an annualized rate of 5.14%,  from $1.29M in 2018 to $988k in 2023.

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

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Latest Trends

November, 2024

About

Overview In November 2024, India exported $1.47M and imported $17.2k from Mongolia, resulting in a positive trade balance of $1.46M. Between November 2023 and November 2024 the exports of India have increased by $401k (37.4%) from $1.07M to $1.47M, while imports decreased by $-19.6k (-53.3%) from $36.8k to $17.2k.

Trade In November 2024, the top exports of India to Mongolia were Ac, Refrigeration Machnry Etc ($489k), Cereal Preparations ($446k), Products Of Iron And Steel ($439k), Electronics Components ($329k), and Drug Formulations, Biologicals ($324k). In November 2024 the top imports of India from Mongolia were Books, Publications And Prntng ($124).

Growth In November 2024, the increase in India's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Cereal Preparations ($445k or 80.2k%), Products Of Iron And Steel ($436k or 12.6k%), and Manmade Yarn,Fabrics,Madeups ($74.9k or 2.32k%). In November 2024, the decrease in India's year-by-year imports  from Mongolia was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)$401k(37.4%)
IMPORT GROWTH (November 2023 - November 2024)$-19.6k(-53.3%)

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

To check Mongolia and India trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Mongolia and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, India exported $36.5M to Mongolia. The main products exported from India to Mongolia were Delivery Trucks ($12.1M), Packaged Medicaments ($5.66M), and Baked Goods ($2.65M). During the last 5 years the exports of India to Mongolia have decreased at an annualized rate of 7.14%, from $52.9M in 2018 to $36.5M in 2023.

In 2018, Mongolia exported $988k to India. The main products exported from Mongolia to India were Prepared Wool or Animal Hair ($449k), Animal Hair ($171k), and Tanned Equine and Bovine Hides ($125k). During the last 5 years the exports of Mongolia to India have decreased at an annualized rate of 5.14%, from $1.29M in 2023 to $988k in 2018.

Exports from India (Flag) to Mongolia (Flag) (2023)

Exports from Mongolia (Flag) to India (Flag) (2023)

Market Competitiveness

Color
India
Top DestinationUnited States$85.5B
Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from India than Mongolia included United States ($85.5B), United Arab Emirates ($28.8B), and Germany ($15B).

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

Difference in imports from Mongolia (Flag) and India (Flag) (2023)

Comparative Advantage India - Mongolia

Flow
Scale

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

During 2023, India had a large net trade with Mongolia in the exports of Transportation ($12.5M), Chemical Products ($8.42M), and Machines ($5.27M).

During 2018, Mongolia had a large net trade with India in the exports of Textiles ($744k), Animal Hides ($125k), and Mineral Products ($81.1k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Mongolia+$9.84MTelephones
Top Product Potential Mongolia India+$571kAnimal Hair

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

Product Space of India (Flag) and Mongolia (Flag) (2023)

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