Mongolia (MNG) and Australia (AUS) Trade | The Observatory of Economic Complexity

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Mongolia-Australia Trade: In 2023, Mongolia exported $575k to Australia. The main products that Mongolia exported to Australia were Prefabricated Buildings ($169k), Knit Sweaters ($152k), and Beauty Products ($43.4k). Over the past 5 years the exports of Mongolia to Australia have decreased at an annualized rate of 16.2%, from $1.39M in 2018 to $575k in 2023.

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

Australia-Mongolia Trade: In 2023, Australia exported $32.5M to Mongolia. The main products that Australia exported to Mongolia were Zinc Ore ($10.1M), Liquid Pumps ($3.28M), and Excavation Machinery ($1.72M). Over the past 5 years the exports of Australia to Mongolia have decreased at an annualized rate of 8.64%, from $51M in 2018 to $32.5M in 2023.

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

Comparison: In 2023, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B). That same year, Australia ranked 75 in the Economic Complexity Index (ECI -0.28), and 20 in total exports ($374B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mongolia exported $575k to Australia. The main products exported from Mongolia to Australia were Prefabricated Buildings ($169k), Knit Sweaters ($152k), and Beauty Products ($43.4k). During the last 5 years the exports of Mongolia to Australia have decreased at an annualized rate of 16.2%, from $1.39M in 2018 to $575k in 2023.

In 2018, Australia exported $32.5M to Mongolia. The main products exported from Australia to Mongolia were Zinc Ore ($10.1M), Liquid Pumps ($3.28M), and Excavation Machinery ($1.72M). During the last 5 years the exports of Australia to Mongolia have decreased at an annualized rate of 8.64%, from $51M in 2023 to $32.5M in 2018.

Exports from Mongolia () to Australia () (2023)

Exports from Australia () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Australia ()

Mongolia Exports

Date

Australia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$13.1B

Australia
Top DestinationChina$137B

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

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

In 2023, countries that imported more from Australia than Mongolia included China ($137B), Japan ($59B), and South Korea ($20.9B).

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

Comparative Advantage Mongolia - Australia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mongolia had a large net trade with Australia in the exports of Textiles ($196k), Miscellaneous ($176k), and Machines ($63.9k).

During 2018, Australia had a large net trade with Mongolia in the exports of Machines ($12.5M), Mineral Products ($10.1M), and Metals ($2.86M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Australia+$192kKnit Sweaters

Top Product Potential Australia Mongolia+$611kTelephones

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

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Australia () (2023)

Exports from Australia () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Australia ()

Mongolia Exports

Australia Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Australia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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