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2023
Flag → Flag
Exports $254kRnk 39 / 101
2023
Flag → Flag
Top Product $139kGlass Beads
2023
Flag → Flag
Exports $3.1MRnk 118 / 201
2023
Flag → Flag
Top Product $1.26MBananas
2023
Flag
Economic Complexity (ECI) ECI -1.32Rnk 123 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag  
GDP$20.3BCURRENT US$
Rnk 120 / 195
2013-2023
Flag
GDP GROWTH61.5%CURRENT US$
Rnk 51 / 195
2023
Flag
 GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
GDP PC $5,839CURRENT US$
Rnk 116 / 195
2013-2023
Flag
GDP PC GROWTH34.5%CURRENT US$
Rnk 70 / 195
2023
Flag
GDP PC$3,805CURRENT US$
Rnk 133 / 196
2013-2023
Flag
GDP PC GROWTH36.8%CURRENT US$
Rnk 65 / 195

About

Mongolia-Philippines Trade: In 2023, Mongolia exported $254k to Philippines. The main products that Mongolia exported to Philippines were Glass Beads ($139k), Motor vehicles; parts and accessories (8701 to 8705) ($73.1k), and Other Iron Products ($26.9k). Over the past 5 years the exports of Mongolia to Philippines have decreased at an annualized rate of 34.5%, from $2.11M in 2018 to $254k in 2023.

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

Philippines-Mongolia Trade: In 2023, Philippines exported $3.1M to Mongolia. The main products that Philippines exported to Mongolia were Bananas ($1.26M), Other Processed Vegetables ($440k), and Sauces and Seasonings ($434k). Over the past 5 years the exports of Philippines to Mongolia have decreased at an annualized rate of 15.5%,  from $7.18M in 2018 to $3.1M in 2023.

In 2023, Philippines 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, Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Mongolia exported $254k to Philippines. The main products exported from Mongolia to Philippines were Glass Beads ($139k), Motor vehicles; parts and accessories (8701 to 8705) ($73.1k), and Other Iron Products ($26.9k). During the last 5 years the exports of Mongolia to Philippines have decreased at an annualized rate of 34.5%, from $2.11M in 2018 to $254k in 2023.

In 2018, Philippines exported $3.1M to Mongolia. The main products exported from Philippines to Mongolia were Bananas ($1.26M), Other Processed Vegetables ($440k), and Sauces and Seasonings ($434k). During the last 5 years the exports of Philippines to Mongolia have decreased at an annualized rate of 15.5%, from $7.18M in 2023 to $3.1M in 2018.

Exports from Mongolia (Flag) to Philippines (Flag) (2023)

Exports from Philippines (Flag) to Mongolia (Flag) (2023)

Latest Data

Trade between Mongolia (Flag) and Philippines (Flag)

Mongolia Exports

Philippines Exports

Market Competitiveness

Color
Mongolia
Top DestinationChina$13.1B
Philippines
Top DestinationChina$19B

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

In 2023, countries that imported more from Mongolia than Philippines included Kyrgyzstan ($2.12M).

In 2023, countries that imported more from Philippines than Mongolia included United States ($13.3B), Hong Kong ($11.7B), and Japan ($11.4B).

Difference in imports from Philippines (Flag) and Mongolia (Flag) (2023)

Comparative Advantage Mongolia - Philippines

Flow
Scale

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

During 2023, Mongolia had a large net trade with Philippines in the exports of Stone And Glass ($139k), Transportation ($73.1k), and Metals ($26.9k).

During 2018, Philippines had a large net trade with Mongolia in the exports of Vegetable Products ($1.26M), Foodstuffs ($1.09M), and Chemical Products ($490k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia Philippines+$8.06kCoal Briquettes
Top Product Potential Philippines Mongolia+$750kElectrical Transformers

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

Product Space of Mongolia (Flag) and Philippines (Flag) (2023)

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