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2022
Flag → Flag
Exports $964kRnk 154 / 209
2022
Flag → Flag
Top Product $222kMicrophones and Headphones
2022
Flag → Flag
Exports $742kRnk 39 / 113
2022
Flag → Flag
Top Product $313kOther Footwear
2022
Flag
Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.26Rnk 120 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH12.4%CURRENT US$
Rnk 107 / 186

About

Norway-Mongolia Trade: In 2022, Norway exported $964k to Mongolia. The main products that Norway exported to Mongolia were Microphones and Headphones ($222k), Non-fillet Frozen Fish ($165k), and Packaged Medicaments ($157k). Over the past 5 years the exports of Norway to Mongolia have decreased at an annualized rate of 2.09%, from $1.07M in 2017 to $964k in 2022.

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

Mongolia-Norway Trade: In 2022, Mongolia exported $742k to Norway. The main products that Mongolia exported to Norway were Other Footwear ($313k), Knit Sweaters ($84.8k), and Central Heating Boilers ($78.2k). Over the past 5 years the exports of Mongolia to Norway have decreased at an annualized rate of 6.47%,  from $1.04M in 2017 to $742k in 2022.

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

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Latest Trends

October, 2024

About

Overview In October 2024, Norway exported NOK368k and imported NOK3.48M from Mongolia, resulting in a negative trade balance of NOK3.11M. Between October 2023 and October 2024 the exports of Norway have increased by NOK309k (524%) from NOK59k to NOK368k, while imports decreased by NOK-1.46M (-29.5%) from NOK4.94M to NOK3.48M.

Trade In October 2024, the top exports of Norway to Mongolia were Fish (not marine mammals), crustaceans, molluscs... (NOK50k), Live animals other than animals of... (NOK0), Meat and meat preparations (NOK0), Dairy products and birds' eggs (NOK0), and Cereals and cereal preparations (NOK0). In October 2024 the top imports of Norway from Mongolia were Crude animal and vegetable materials, n.e.s. (NOK323k), Articles of apparel and clothing accessories (NOK178k), Machinery specialized for particular industries (NOK153k), Footwear (NOK51k), and Textile yarn, fabrics, made-up articles, n.e.s.,... (NOK8k).

Growth In October 2024, the increase in Norway's year-by-year exports to Mongolia was explained primarily by an increase in product exports in . In October 2024, the decrease in Norway's year-by-year imports  from Mongolia was explained primarily by an decrease in product imports  in Footwear (NOK-32k or -38.6%) and Manufactures of metals, n.e.s. (NOK-2k or -100%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (October 2023 - October 2024)NOK309k(524%)
IMPORT GROWTH (October 2023 - October 2024)NOK-1.46M(-29.5%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Mongolia and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Mongolia and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $964k to Mongolia. The main products exported from Norway to Mongolia were Microphones and Headphones ($222k), Non-fillet Frozen Fish ($165k), and Packaged Medicaments ($157k). During the last 5 years the exports of Norway to Mongolia have decreased at an annualized rate of 2.09%, from $1.07M in 2017 to $964k in 2022.

In 2017, Mongolia exported $742k to Norway. The main products exported from Mongolia to Norway were Other Footwear ($313k), Knit Sweaters ($84.8k), and Central Heating Boilers ($78.2k). During the last 5 years the exports of Mongolia to Norway have decreased at an annualized rate of 6.47%, from $1.04M in 2022 to $742k in 2017.

Exports from Norway (Flag) to Mongolia (Flag) (2022)

Exports from Mongolia (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Mongolia
Top DestinationChina$10.6B

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

In 2022, countries that imported more from Norway than Mongolia included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2022, countries that imported more from Mongolia than Norway included China ($10.6B), Switzerland ($1.98B), and Iran ($7.39M).

Difference in imports from Mongolia (Flag) and Norway (Flag) (2022)

Comparative Advantage Norway - Mongolia

Flow
Scale

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

During 2022, Norway had a large net trade with Mongolia in the exports of Machines ($264k), Chemical Products ($256k), and Animal Products ($189k).

During 2017, Mongolia had a large net trade with Norway in the exports of Footwear and Headwear ($355k), Machines ($159k), and Textiles ($146k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Mongolia+$245kPackaged Medicaments
Top Product Potential Mongolia Norway+$167kKnit Sweaters

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

Product Space of Norway (Flag) and Mongolia (Flag) (2022)

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