Mongolia (MNG) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Mongolia-Belgium Trade: In 2023, Mongolia exported $363k to Belgium. The main products that Mongolia exported to Belgium were Knit Sweaters ($233k), Other Knit Clothing Accessories ($12.6k), and Musical Instrument Parts ($11.7k). Over the past 5 years the exports of Mongolia to Belgium have decreased at an annualized rate of 3.21%, from $428k in 2018 to $363k in 2023.

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

Belgium-Mongolia Trade: In 2023, Belgium exported $26.9M to Mongolia. The main products that Belgium exported to Mongolia were Refined Petroleum ($5.27M), Orthopedic Appliances ($4.21M), and Apples and Pears ($2.73M). Over the past 5 years the exports of Belgium to Mongolia have increased at an annualized rate of 10.8%, from $16.1M in 2018 to $26.9M in 2023.

In 2023, Belgium 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, Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mongolia exported $363k to Belgium. The main products exported from Mongolia to Belgium were Knit Sweaters ($233k), Other Knit Clothing Accessories ($12.6k), and Musical Instrument Parts ($11.7k). During the last 5 years the exports of Mongolia to Belgium have decreased at an annualized rate of 3.21%, from $428k in 2018 to $363k in 2023.

In 2018, Belgium exported $26.9M to Mongolia. The main products exported from Belgium to Mongolia were Refined Petroleum ($5.27M), Orthopedic Appliances ($4.21M), and Apples and Pears ($2.73M). During the last 5 years the exports of Belgium to Mongolia have increased at an annualized rate of 10.8%, from $16.1M in 2023 to $26.9M in 2018.

Exports from Mongolia () to Belgium () (2023)

Exports from Belgium () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Belgium ()

Mongolia Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$13.1B

Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Mongolia than Belgium included China ($13.1B).

In 2023, countries that imported more from Belgium than Mongolia included France ($85.6B), Netherlands ($67.3B), and Germany ($60.8B).

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

Comparative Advantage Mongolia - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mongolia had a large net trade with Belgium in the exports of Textiles ($287k), Metals ($20.8k), and Instruments ($11.7k).

During 2018, Belgium had a large net trade with Mongolia in the exports of Machines ($5.76M), Mineral Products ($5.27M), and Instruments ($5.11M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Belgium+$351kKnit Sweaters

Top Product Potential Belgium Mongolia+$2.31MVaccines, blood, antisera, toxins and cultures

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

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Belgium () (2023)

Exports from Belgium () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Belgium ()

Mongolia Exports

Belgium Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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