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2023
Flag → Flag
Exports $29.9MRnk 6 / 101
2023
Flag → Flag
Top Product $17.7MOther Nuts
2023
Flag → Flag
Exports $157MRnk 146 / 220
2023
Flag → Flag
Top Product $27MCars
2023
Flag
Economic Complexity (ECI) ECI -1.32Rnk 123 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
Flag  
GDP$20.3BCURRENT US$
Rnk 120 / 195
2013-2023
Flag
GDP GROWTH61.5%CURRENT US$
Rnk 51 / 195
2023
Flag
 GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
Flag
GDP GROWTH64.2%CURRENT US$
Rnk 44 / 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$82,769CURRENT US$
Rnk 9 / 196
2013-2023
Flag
GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195

About

Mongolia-United States Trade: In 2023, Mongolia exported $29.9M to United States. The main products that Mongolia exported to United States were Other Nuts ($17.7M), Knit Sweaters ($4.1M), and Tungsten Ore ($3.95M). Over the past 5 years the exports of Mongolia to United States have increased at an annualized rate of 23.2%, from $10.5M in 2018 to $29.9M in 2023.

In 2023, Mongolia did not export any services to United States.

United States-Mongolia Trade: In 2023, United States exported $157M to Mongolia. The main products that United States exported to Mongolia were Cars ($27M), Rubber Tires ($17.9M), and Combustion Engines ($13.9M). Over the past 5 years the exports of United States to Mongolia have decreased at an annualized rate of 4.56%,  from $198M in 2018 to $157M in 2023.

In 2023, United States 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, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Mongolia exported $29.9M to United States. The main products exported from Mongolia to United States were Other Nuts ($17.7M), Knit Sweaters ($4.1M), and Tungsten Ore ($3.95M). During the last 5 years the exports of Mongolia to United States have increased at an annualized rate of 23.2%, from $10.5M in 2018 to $29.9M in 2023.

In 2018, United States exported $157M to Mongolia. The main products exported from United States to Mongolia were Cars ($27M), Rubber Tires ($17.9M), and Combustion Engines ($13.9M). During the last 5 years the exports of United States to Mongolia have decreased at an annualized rate of 4.56%, from $198M in 2023 to $157M in 2018.

Exports from Mongolia (Flag) to United States (Flag) (2023)

Exports from United States (Flag) to Mongolia (Flag) (2023)

Latest Data

Trade between Mongolia (Flag) and United States (Flag)

Mongolia Exports

United States Exports

Market Competitiveness

Color
Mongolia
Top DestinationChina$13.1B
United States
Top DestinationCanada$269B

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

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

In 2023, countries that imported more from United States than Mongolia included Canada ($269B), Mexico ($243B), and China ($154B).

Difference in imports from United States (Flag) and Mongolia (Flag) (2023)

Comparative Advantage Mongolia - United States

Flow
Scale

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

During 2023, Mongolia had a large net trade with United States in the exports of Vegetable Products ($17.8M), Textiles ($5.54M), and Mineral Products ($4.06M).

During 2018, United States had a large net trade with Mongolia in the exports of Machines ($56M), Transportation ($47.3M), and Plastics and Rubbers ($20.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia United States+$5.59MKnit Sweaters
Top Product Potential United States Mongolia+$20.1MCars

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

Product Space of Mongolia (Flag) and United States (Flag) (2023)

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