2022
Flag  
GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
 GDP
$344BCURRENT US$
Rnk 43 / 186
2012-2022
Flag
GDP GROWTH
-7.22%CURRENT US$
Rnk 172 / 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
$6,630CURRENT US$
Rnk 98 / 186
2012-2022
Flag
GDP PC GROWTH
-18.1%CURRENT US$
Rnk 169 / 186

About

Mongolia-Colombia Trade: In 2022, Mongolia exported $8.44k to Colombia. The main products that Mongolia exported to Colombia were Cars ($8.36k), Knit Socks and Hosiery ($47), and Motor vehicles; parts and accessories (8701 to 8705) ($36). Over the past 5 years the exports of Mongolia to Colombia have decreased at an annualized rate of 28.4%, from $44.8k in 2017 to $8.44k in 2022.

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

Colombia-Mongolia Trade: In 2022, Colombia exported $358k to Mongolia. The main products that Colombia exported to Mongolia were Coffee ($227k), Stone Processing Machines ($46.3k), and Cut Flowers ($20.1k). Over the past 5 years the exports of Colombia to Mongolia have increased at an annualized rate of 21.8%,  from $134k in 2017 to $358k in 2022.

In 2022, Colombia 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, Colombia ranked 58 in the Economic Complexity Index (ECI 0.11), and 53 in total exports ($60.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Mongolia exported $8.44k to Colombia. The main products exported from Mongolia to Colombia were Cars ($8.36k), Knit Socks and Hosiery ($47), and Motor vehicles; parts and accessories (8701 to 8705) ($36). During the last 5 years the exports of Mongolia to Colombia have decreased at an annualized rate of 28.4%, from $44.8k in 2017 to $8.44k in 2022.

In 2017, Colombia exported $358k to Mongolia. The main products exported from Colombia to Mongolia were Coffee ($227k), Stone Processing Machines ($46.3k), and Cut Flowers ($20.1k). During the last 5 years the exports of Colombia to Mongolia have increased at an annualized rate of 21.8%, from $134k in 2022 to $358k in 2017.

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

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

Latest Data

Trade between Mongolia (Flag) and Colombia (Flag)

Mongolia Exports

Date

Colombia Exports

Market Competitiveness

Color
Mongolia
Top Destination
China$10.6B
Colombia
Top Destination
United States$15.6B

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

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

In 2022, countries that imported more from Colombia than Mongolia included United States ($15.6B), Panama ($5.84B), and Netherlands ($3.67B).

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

Comparative Advantage Mongolia - Colombia

Flow
Scale

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

During 2022, Mongolia had a large net trade with Colombia in the exports of Transportation ($8.39k) and Textiles ($47).

During 2017, Colombia had a large net trade with Mongolia in the exports of Vegetable Products ($250k), Machines ($55.7k), and Foodstuffs ($38.3k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia Colombia+$34.1kCars
Top Product Potential Colombia Mongolia+$219kCoffee

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

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

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