2022
Flag  
GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
 GDP
$2.14TCURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP GROWTH
17%CURRENT US$
Rnk 129 / 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
$54,966CURRENT US$
Rnk 14 / 186
2012-2022
Flag
GDP PC GROWTH
4.36%CURRENT US$
Rnk 130 / 186

About

Mongolia-Canada Trade: In 2022, Mongolia exported $2.27M to Canada. The main products that Mongolia exported to Canada were Prefabricated Buildings ($462k), Spark-Ignition Engines ($325k), and Utility Meters ($268k). Over the past 5 years the exports of Mongolia to Canada have decreased at an annualized rate of 3.45%, from $2.71M in 2017 to $2.27M in 2022.

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

Canada-Mongolia Trade: In 2022, Canada exported $18.3M to Mongolia. The main products that Canada exported to Mongolia were Excavation Machinery ($2.59M), Other Organo-Inorganic Compounds ($2.32M), and Cars ($2.27M). Over the past 5 years the exports of Canada to Mongolia have decreased at an annualized rate of 12.3%,  from $35.3M in 2017 to $18.3M in 2022.

In 2022, Canada 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, Canada ranked 31 in the Economic Complexity Index (ECI 0.92), and 9 in total exports ($587B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Mongolia exported $2.27M to Canada. The main products exported from Mongolia to Canada were Prefabricated Buildings ($462k), Spark-Ignition Engines ($325k), and Utility Meters ($268k). During the last 5 years the exports of Mongolia to Canada have decreased at an annualized rate of 3.45%, from $2.71M in 2017 to $2.27M in 2022.

In 2017, Canada exported $18.3M to Mongolia. The main products exported from Canada to Mongolia were Excavation Machinery ($2.59M), Other Organo-Inorganic Compounds ($2.32M), and Cars ($2.27M). During the last 5 years the exports of Canada to Mongolia have decreased at an annualized rate of 12.3%, from $35.3M in 2022 to $18.3M in 2017.

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

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

Latest Data

Trade between Mongolia (Flag) and Canada (Flag)

Mongolia Exports

Canada Exports

Market Competitiveness

Color
Mongolia
Top Destination
N/AN/A
Canada
Top Destination
N/AN/A

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

N/A

N/A

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

Comparative Advantage Mongolia - Canada

Flow
Scale

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

During 2022, Mongolia had a large net trade with Canada in the exports of Textiles ($498k), Machines ($495k), and Miscellaneous ($470k).

During 2017, Canada had a large net trade with Mongolia in the exports of Machines ($7.86M), Chemical Products ($4.77M), and Transportation ($2.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia Canada+$415kKnit Sweaters
Top Product Potential Canada Mongolia+$4.26MCars

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

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

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