Mongolia (MNG) and India (IND) Trade | The Observatory of Economic Complexity

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Mongolia-India Trade: In 2023, Mongolia exported $988k to India. The main products that Mongolia exported to India were Prepared Wool or Animal Hair ($449k), Animal Hair ($171k), and Tanned Equine and Bovine Hides ($125k). Over the past 5 years the exports of Mongolia to India have decreased at an annualized rate of 5.14%, from $1.29M in 2018 to $988k in 2023.

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

India-Mongolia Trade: In 2023, India exported $36.5M to Mongolia. The main products that India exported to Mongolia were Delivery Trucks ($12.1M), Packaged Medicaments ($5.66M), and Baked Goods ($2.65M). Over the past 5 years the exports of India to Mongolia have decreased at an annualized rate of 7.14%, from $52.9M in 2018 to $36.5M in 2023.

In 2023, India 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, India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mongolia exported $988k to India. The main products exported from Mongolia to India were Prepared Wool or Animal Hair ($449k), Animal Hair ($171k), and Tanned Equine and Bovine Hides ($125k). During the last 5 years the exports of Mongolia to India have decreased at an annualized rate of 5.14%, from $1.29M in 2018 to $988k in 2023.

In 2018, India exported $36.5M to Mongolia. The main products exported from India to Mongolia were Delivery Trucks ($12.1M), Packaged Medicaments ($5.66M), and Baked Goods ($2.65M). During the last 5 years the exports of India to Mongolia have decreased at an annualized rate of 7.14%, from $52.9M in 2023 to $36.5M in 2018.

Exports from Mongolia () to India () (2023)

Exports from India () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and India ()

Mongolia Exports

Date

India Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$13.1B

India
Top DestinationUnited States$85.5B

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

In 2023, no countries were registered that imported more from Mongolia than from India.

In 2023, countries that imported more from India than Mongolia included United States ($85.5B), United Arab Emirates ($28.8B), and Germany ($15B).

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

Comparative Advantage Mongolia - India

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mongolia had a large net trade with India in the exports of Textiles ($744k), Animal Hides ($125k), and Mineral Products ($81.1k).

During 2018, India had a large net trade with Mongolia in the exports of Transportation ($12.5M), Chemical Products ($8.42M), and Machines ($5.27M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia India+$571kAnimal Hair

Top Product Potential India Mongolia+$9.84MTelephones

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

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to India () (2023)

Exports from India () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and India ()

Mongolia Exports

India Exports

Market Competitiveness

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

Comparative Advantage Mongolia - India

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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