Mongolia (MNG) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Mongolia-Russia Trade: In 2022, Mongolia exported $112M to Russia. The main products that Mongolia exported to Russia were Feldspar ($46.5M), Planes, Helicopters, and/or Spacecraft ($28.5M), and Rubber Tires ($7.59M). Over the past 5 years the exports of Mongolia to Russia have increased at an annualized rate of 10.8%, from $67.3M in 2017 to $112M in 2022.

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

Russia-Mongolia Trade: In 2022, Russia exported $2.44B to Mongolia. The main products that Russia exported to Mongolia were Refined Petroleum ($1.43B), Raw Iron Bars ($117M), and Nitrogenous Fertilizers ($108M). Over the past 5 years the exports of Russia to Mongolia have increased at an annualized rate of 8.85%, from $1.6B in 2017 to $2.44B in 2022.

In 2020, Russia exported services to Mongolia worth $97.4M, with Communications services ($44.9M), Transportation ($27.1M), and Travel ($12.9M) being the largest in terms of value.

Comparison: In 2022, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B). That same year, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Mongolia exported $112M to Russia. The main products exported from Mongolia to Russia were Feldspar ($46.5M), Planes, Helicopters, and/or Spacecraft ($28.5M), and Rubber Tires ($7.59M). During the last 5 years the exports of Mongolia to Russia have increased at an annualized rate of 10.8%, from $67.3M in 2017 to $112M in 2022.

In 2017, Russia exported $2.44B to Mongolia. The main products exported from Russia to Mongolia were Refined Petroleum ($1.43B), Raw Iron Bars ($117M), and Nitrogenous Fertilizers ($108M). During the last 5 years the exports of Russia to Mongolia have increased at an annualized rate of 8.85%, from $1.6B in 2022 to $2.44B in 2017.

Exports from Mongolia () to Russia () (2022)

Exports from Russia () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Russia ()

Mongolia Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$10.6B

Russia
Top DestinationChina$101B

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

In 2022, countries that imported more from Mongolia than Russia included Iran ($7.39M), Saudi Arabia ($672k), and Sudan ($419k).

In 2022, countries that imported more from Russia than Mongolia included China ($101B), India ($40.4B), and Germany ($27.7B).

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

Comparative Advantage Mongolia - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Mongolia had a large net trade with Russia in the exports of Mineral Products ($53.5M), Transportation ($31.5M), and Plastics and Rubbers ($8.05M).

During 2017, Russia had a large net trade with Mongolia in the exports of Mineral Products ($1.52B), Chemical Products ($179M), and Metals ($163M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Russia+$3.46MPrecious Metal Ore

Top Product Potential Russia Mongolia+$9.84MPetroleum Gas

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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Bilateral Service Trade

Rus Year

In 2020, Russia exported services to Mongolia worth $97.4M, with Communications services ($44.9M), Transportation ($27.1M), and Travel ($12.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Mongolia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Russia () (2022)

Exports from Russia () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Russia ()

Mongolia Exports

Russia Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Russia () to Mongolia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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