Mongolia (MNG) and Ecuador (ECU) Trade | The Observatory of Economic Complexity

About

Mongolia-Ecuador Trade: In 2022, Mongolia exported $6.11k to Ecuador. The main products that Mongolia exported to Ecuador were Natural Polymers ($6.02k), Non-Knit Women's Suits ($63), and Non-Knit Women's Shirts ($25). Over the past 5 years the exports of Mongolia to Ecuador have decreased at an annualized rate of 43%, from $102k in 2017 to $6.11k in 2022.

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

Ecuador-Mongolia Trade: In 2022, Ecuador exported $4.09M to Mongolia. The main products that Ecuador exported to Mongolia were Bananas ($4.01M), Coffee and Tea Extracts ($58k), and Crustaceans ($9.72k). Over the past 5 years the exports of Ecuador to Mongolia have increased at an annualized rate of 65.9%, from $326k in 2017 to $4.09M in 2022.

In 2022, Ecuador 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, Ecuador ranked 109 in the Economic Complexity Index (ECI -0.96), and 68 in total exports ($36B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Mongolia exported $6.11k to Ecuador. The main products exported from Mongolia to Ecuador were Natural Polymers ($6.02k), Non-Knit Women's Suits ($63), and Non-Knit Women's Shirts ($25). During the last 5 years the exports of Mongolia to Ecuador have decreased at an annualized rate of 43%, from $102k in 2017 to $6.11k in 2022.

In 2017, Ecuador exported $4.09M to Mongolia. The main products exported from Ecuador to Mongolia were Bananas ($4.01M), Coffee and Tea Extracts ($58k), and Crustaceans ($9.72k). During the last 5 years the exports of Ecuador to Mongolia have increased at an annualized rate of 65.9%, from $326k in 2022 to $4.09M in 2017.

Exports from Mongolia () to Ecuador () (2022)

Exports from Ecuador () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Ecuador ()

Ecuador Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$10.6B

Ecuador
Top DestinationUnited States$9.86B

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

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

In 2022, countries that imported more from Ecuador than Mongolia included United States ($9.86B), Panama ($4.97B), and Chile ($1.34B).

Difference in imports from Ecuador () and Mongolia () (2022)

Comparative Advantage Mongolia - Ecuador

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Mongolia had a large net trade with Ecuador in the exports of Plastics and Rubbers ($6.02k) and Textiles ($93).

During 2017, Ecuador had a large net trade with Mongolia in the exports of Vegetable Products ($4.02M), Foodstuffs ($63.9k), and Animal Products ($9.72k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Ecuador+$2.42kCoal Briquettes

Top Product Potential Ecuador Mongolia+$72kCoffee and Tea Extracts

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Mongolia and Ecuador. This means that a dot/product with the flag of Mongolia indicates it has a comparative advantage over Ecuador. Similarly, a dot/product with the flag of Ecuador indicates it has a comparative advantage over Mongolia.

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Ecuador () (2022)

Exports from Ecuador () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Ecuador ()

Ecuador Exports

Market Competitiveness

Difference in imports from Ecuador () and Mongolia () (2022)

Comparative Advantage Mongolia - Ecuador

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Mongolia () and Ecuador () (2022)

Keep Exploring