GDP$20.3BCURRENT US$Rnk 120 / 195 GDP GROWTH61.5%CURRENT US$Rnk 51 / 195
GDP$11BCURRENT US$Rnk 148 / 195 GDP GROWTH117%CURRENT US$Rnk 8 / 195 GDP PC $5,839CURRENT US$Rnk 116 / 195GDP PC GROWTH34.5%CURRENT US$Rnk 70 / 195GDP PC$597CURRENT US$Rnk 191 / 196GDP PC GROWTH51.9%CURRENT US$Rnk 45 / 195In N/A, Mongolia did not export any services to Somalia.
Somalia-Mongolia In N/A, Somalia did not export any products to Mongolia.
In N/A, Somalia 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, Somalia ranked 161 in total exports ($1.03B), and does not have data regarding Economic Complexity Index.
This map shows whether countries import more from Mongolia or Somalia. Each country is colored based on the difference in imports they receive from Mongolia and Somalia or the difference in the growth in imports.
In 2023, countries that imported more from Mongolia than Somalia included China ($13.1B), Switzerland ($842M), and Italy ($87.7M).
In 2023, countries that imported more from Somalia than Mongolia included United Arab Emirates ($360M), Saudi Arabia ($283M), and Oman ($180M).
) and Mongolia () (2023)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.
This visualization shows the product space at the HS4 level with the flags of Mongolia and Somalia. This means that a dot/product with the flag of Mongolia indicates it has a comparative advantage over Somalia. Similarly, a dot/product with the flag of Somalia indicates it has a comparative advantage over Mongolia.
) and Somalia () (2018)
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