2022
Flag  
GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
 GDP
$78.7BCURRENT US$
Rnk 73 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 140 / 186
2022
Flag
GDP PC 
$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH
12.4%CURRENT US$
Rnk 107 / 186
2022
Flag
GDP PC
$7,737CURRENT US$
Rnk 87 / 186
2012-2022
Flag
GDP PC GROWTH
3.21%CURRENT US$
Rnk 134 / 186

About

Mongolia-Azerbaijan Trade: In 2022, Mongolia exported $237k to Azerbaijan. The main products that Mongolia exported to Azerbaijan were Bovine, Sheep, and Goat Fat ($154k), Other Vegetable Oils ($62.9k), and Sheep and Goat Meat ($5.84k). Over the past 5 years the exports of Mongolia to Azerbaijan have increased at an annualized rate of 23.6%, from $81.9k in 2017 to $237k in 2022.

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

Azerbaijan-Mongolia Trade: In 2022, Azerbaijan exported $423k to Mongolia. The main products that Azerbaijan exported to Mongolia were Baked Goods ($236k), Chocolate ($92.5k), and Flavored Water ($26.8k). Over the past 5 years the exports of Azerbaijan to Mongolia have increased at an annualized rate of 17.7%,  from $97.3k in 2017 to $423k in 2022.

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

Comparison: In 2022,  Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B). That same year, Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44), and 65 in total exports ($38.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Mongolia exported $237k to Azerbaijan. The main products exported from Mongolia to Azerbaijan were Bovine, Sheep, and Goat Fat ($154k), Other Vegetable Oils ($62.9k), and Sheep and Goat Meat ($5.84k). During the last 5 years the exports of Mongolia to Azerbaijan have increased at an annualized rate of 23.6%, from $81.9k in 2017 to $237k in 2022.

In 2017, Azerbaijan exported $423k to Mongolia. The main products exported from Azerbaijan to Mongolia were Baked Goods ($236k), Chocolate ($92.5k), and Flavored Water ($26.8k). During the last 5 years the exports of Azerbaijan to Mongolia have increased at an annualized rate of 17.7%, from $97.3k in 2022 to $423k in 2017.

Exports from Mongolia (Flag) to Azerbaijan (Flag) (2022)

Exports from Azerbaijan (Flag) to Mongolia (Flag) (2022)

Latest Data

Trade between Mongolia (Flag) and Azerbaijan (Flag)

Mongolia Exports

Azerbaijan Exports

Market Competitiveness

Color
Mongolia
Top Destination
China$10.6B
Azerbaijan
Top Destination
Italy$18.3B

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

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

In 2022, countries that imported more from Azerbaijan than Mongolia included Italy ($18.3B), Turkey ($3.57B), and Israel ($1.68B).

Difference in imports from Azerbaijan (Flag) and Mongolia (Flag) (2022)

Comparative Advantage Mongolia - Azerbaijan

Flow
Scale

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

During 2022, Mongolia had a large net trade with Azerbaijan in the exports of Animal and Vegetable Bi-Products ($217k), Animal Products ($11.1k), and Textiles ($8.03k).

During 2017, Azerbaijan had a large net trade with Mongolia in the exports of Foodstuffs ($356k), Vegetable Products ($50.4k), and Mineral Products ($17k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia Azerbaijan+$13.8kKnit Sweaters
Top Product Potential Azerbaijan Mongolia+N/AN/A

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

Product Space of Mongolia (Flag) and Azerbaijan (Flag) (2022)

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