Mongolia (MNG) and Singapore (SGP) Trade | The Observatory of Economic Complexity

About

Mongolia-Singapore Trade: In 2023, Mongolia exported $306k to Singapore. The main products that Mongolia exported to Singapore were Centrifuges ($99.8k), Office Machine Parts ($37.2k), and Knit Sweaters ($35k). Over the past 5 years the exports of Mongolia to Singapore have decreased at an annualized rate of 60%, from $29.9M in 2018 to $306k in 2023.

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

Singapore-Mongolia Trade: In 2023, Singapore exported $171M to Mongolia. The main products that Singapore exported to Mongolia were Broadcasting Equipment ($38.8M), Refined Petroleum ($18.6M), and Transmissions ($9.84M). Over the past 5 years the exports of Singapore to Mongolia have increased at an annualized rate of 25.4%, from $55.1M in 2018 to $171M in 2023.

In 2023, Singapore 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, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mongolia exported $306k to Singapore. The main products exported from Mongolia to Singapore were Centrifuges ($99.8k), Office Machine Parts ($37.2k), and Knit Sweaters ($35k). During the last 5 years the exports of Mongolia to Singapore have decreased at an annualized rate of 60%, from $29.9M in 2018 to $306k in 2023.

In 2018, Singapore exported $171M to Mongolia. The main products exported from Singapore to Mongolia were Broadcasting Equipment ($38.8M), Refined Petroleum ($18.6M), and Transmissions ($9.84M). During the last 5 years the exports of Singapore to Mongolia have increased at an annualized rate of 25.4%, from $55.1M in 2023 to $171M in 2018.

Exports from Mongolia () to Singapore () (2023)

Exports from Singapore () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Singapore ()

Mongolia Exports

Date

Singapore Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$13.1B

Singapore
Top DestinationHong Kong$44.5B

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

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

In 2023, countries that imported more from Singapore than Mongolia included Hong Kong ($44.5B), United States ($32.9B), and Malaysia ($31.4B).

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

Comparative Advantage Mongolia - Singapore

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mongolia had a large net trade with Singapore in the exports of Machines ($223k), Textiles ($49.5k), and Foodstuffs ($9.25k).

During 2018, Singapore had a large net trade with Mongolia in the exports of Machines ($113M), Mineral Products ($18.6M), and Foodstuffs ($13.6M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Singapore+$161kTelephones

Top Product Potential Singapore Mongolia+$17.1MRefined Petroleum

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

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Singapore () (2023)

Exports from Singapore () to Mongolia () (2023)

Latest Data

Trade between Mongolia () and Singapore ()

Mongolia Exports

Singapore Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Singapore

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 Singapore () (2023)

Keep Exploring