Mongolia (MNG) and Uruguay (URY) Trade | The Observatory of Economic Complexity

About

Mongolia-Uruguay Trade: In 2022, Mongolia exported $765 to Uruguay. The main products that Mongolia exported to Uruguay were Motor vehicles; parts and accessories (8701 to 8705) ($704) and Scarves ($61). Over the past 8 years the exports of Mongolia to Uruguay have decreased at an annualized rate of 14.3%, from $2.63k in 2014 to $765 in 2022.

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

Uruguay-Mongolia Trade: In 2022, Uruguay exported $709k to Mongolia. The main products that Uruguay exported to Mongolia were Concentrated Milk ($631k), Cheese ($68.2k), and Butter ($9.24k). Over the past 8 years the exports of Uruguay to Mongolia have increased at an annualized rate of 105%, from $19.5k in 2014 to $709k in 2022.

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

Comparison: In 2022, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B). That same year, Uruguay ranked 57 in the Economic Complexity Index (ECI 0.15), and 98 in total exports ($12B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Mongolia exported $765 to Uruguay. The main products exported from Mongolia to Uruguay were Motor vehicles; parts and accessories (8701 to 8705) ($704) and Scarves ($61). During the last 8 years the exports of Mongolia to Uruguay have decreased at an annualized rate of 14.3%, from $2.63k in 2014 to $765 in 2022.

In 2017, Uruguay exported $709k to Mongolia. The main products exported from Uruguay to Mongolia were Concentrated Milk ($631k), Cheese ($68.2k), and Butter ($9.24k). During the last 5 years the exports of Uruguay to Mongolia have increased at an annualized rate of 105%, from $19.5k in 2022 to $709k in 2017.

Exports from Mongolia () to Uruguay () (2022)

Exports from Uruguay () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Uruguay ()

Uruguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$10.6B

Uruguay
Top DestinationChina$2.89B

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

In 2022, countries that imported more from Mongolia than Uruguay included China ($10.6B), Switzerland ($1.98B), and Singapore ($346M).

In 2022, countries that imported more from Uruguay than Mongolia included Brazil ($1.69B), Argentina ($999M), and United States ($818M).

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

Comparative Advantage Mongolia - Uruguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Mongolia had a large net trade with Uruguay in the exports of Transportation ($704) and Textiles ($61).

During 2017, Uruguay had a large net trade with Mongolia in the exports of Animal Products ($709k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Uruguay+$3.41kMotor vehicles; parts and accessories (8701 to 8705)

Top Product Potential Uruguay Mongolia+$145kConcentrated Milk

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

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Uruguay () (2022)

Exports from Uruguay () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Uruguay ()

Uruguay Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Uruguay

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 Uruguay () (2022)

Keep Exploring