2022
Flag  
GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
 GDP
$281BCURRENT US$
Rnk 47 / 186
2012-2022
Flag
GDP GROWTH
8.73%CURRENT US$
Rnk 147 / 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
$50,537CURRENT US$
Rnk 18 / 186
2012-2022
Flag
GDP PC GROWTH
5.93%CURRENT US$
Rnk 127 / 186

About

Mongolia-Finland Trade: In 2022, Mongolia exported $9.15M to Finland. The main products that Mongolia exported to Finland were Precious Metal Ore ($8.48M), Feldspar ($623k), and Other Plastic Products ($14.5k). Over the past 5 years the exports of Mongolia to Finland have increased at an annualized rate of 45.1%, from $1.43M in 2017 to $9.15M in 2022.

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

Finland-Mongolia Trade: In 2022, Finland exported $27.4M to Mongolia. The main products that Finland exported to Mongolia were Large Construction Vehicles ($7.6M), Stone Processing Machines ($3.69M), and Prefabricated Buildings ($3.29M). Over the past 5 years the exports of Finland to Mongolia have increased at an annualized rate of 8.78%,  from $18M in 2017 to $27.4M in 2022.

In 2022, Finland 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, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Mongolia exported $9.15M to Finland. The main products exported from Mongolia to Finland were Precious Metal Ore ($8.48M), Feldspar ($623k), and Other Plastic Products ($14.5k). During the last 5 years the exports of Mongolia to Finland have increased at an annualized rate of 45.1%, from $1.43M in 2017 to $9.15M in 2022.

In 2017, Finland exported $27.4M to Mongolia. The main products exported from Finland to Mongolia were Large Construction Vehicles ($7.6M), Stone Processing Machines ($3.69M), and Prefabricated Buildings ($3.29M). During the last 5 years the exports of Finland to Mongolia have increased at an annualized rate of 8.78%, from $18M in 2022 to $27.4M in 2017.

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

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

Latest Data

Trade between Mongolia (Flag) and Finland (Flag)

Mongolia Exports

Finland Exports

Market Competitiveness

Color
Mongolia
Top Destination
China$10.6B
Finland
Top Destination
Germany$9.99B

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

In 2022, countries that imported more from Mongolia than Finland included China ($10.6B), Switzerland ($1.98B), and Iran ($7.39M).

In 2022, countries that imported more from Finland than Mongolia included Germany ($9.99B), United States ($9.17B), and Sweden ($9.1B).

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

Comparative Advantage Mongolia - Finland

Flow
Scale

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

During 2022, Mongolia had a large net trade with Finland in the exports of Mineral Products ($9.1M), Textiles ($16.8k), and Plastics and Rubbers ($14.5k).

During 2017, Finland had a large net trade with Mongolia in the exports of Machines ($17.5M), Miscellaneous ($3.6M), and Transportation ($1.84M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia Finland+$118kFeldspar
Top Product Potential Finland Mongolia+$749kDelivery Trucks

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

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

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