Philippines (PHL) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Philippines-Mongolia Trade: In 2022, Philippines exported $6.88M to Mongolia. The main products that Philippines exported to Mongolia were Office Machine Parts ($1.11M), Baked Goods ($613k), and Bananas ($567k). Over the past 5 years the exports of Philippines to Mongolia have increased at an annualized rate of 159%, from $59k in 2017 to $6.88M in 2022.

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

Mongolia-Philippines Trade: In 2022, Mongolia exported $6.56k to Philippines. The main products that Mongolia exported to Philippines were Glass Fibers ($417k), Hydrometers ($1.98k), and String Instruments ($341). Over the past 5 years the exports of Mongolia to Philippines have decreased at an annualized rate of 7.21%, from $9.54k in 2017 to $6.56k in 2022.

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

Comparison: In 2022, Philippines ranked 37 in the Economic Complexity Index (ECI 0.71), and 40 in total exports ($110B). That same year, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Latest Trends

December, 2022

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Overview In December 2022, Philippines exported $285k and imported $286 from Mongolia, resulting in a positive trade balance of $285k. Between December 2021 and December 2022 the exports of Philippines have increased by $138k (93.2%) from $148k to $285k, while imports decreased by $-8.92k (-96.9%) from $9.21k to $286.

Trade In December 2022, the top exports of Philippines to Mongolia were Other Leather Articles ($28.2k), Imitation Jewellery ($11.4k), Electric Heaters ($8.02k), and Office Machine Parts ($2.95k). In December 2022 the top imports of Philippines from Mongolia were Glass Fibers ($149k) and Hydrometers ($1.58k).

Growth In December 2022, the increase in Philippines's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Office Machine Parts ($1.23k or 71.4%). In September 2022, the decrease in Philippines's year-by-year imports from Mongolia was explained primarily by an decrease in product imports in .

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Philippines exported $6.88M to Mongolia. The main products exported from Philippines to Mongolia were Office Machine Parts ($1.11M), Baked Goods ($613k), and Bananas ($567k). During the last 5 years the exports of Philippines to Mongolia have increased at an annualized rate of 159%, from $59k in 2017 to $6.88M in 2022.

In 2017, Mongolia exported $6.56k to Philippines. The main products exported from Mongolia to Philippines were Glass Fibers ($417k), Hydrometers ($1.98k), and String Instruments ($341). During the last 21 years the exports of Mongolia to Philippines have decreased at an annualized rate of 7.21%, from $9.54k in 1996 to $6.56k in 2017.

Exports from Philippines () to Mongolia () (2022)

Exports from Mongolia () to Philippines () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Philippines
Top DestinationUnited States$15.5B

Mongolia
Top DestinationChina$10.6B

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

In 2022, countries that imported more from Philippines than Mongolia included United States ($15.5B), Hong Kong ($12.6B), and Japan ($11.3B).

In 2022, countries that imported more from Mongolia than Philippines included Russia ($112M), Kyrgyzstan ($2.34M), and Belarus ($375k).

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

Comparative Advantage Philippines - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Philippines had a large net trade with Mongolia in the exports of Machines ($2.52M), Foodstuffs ($1.75M), and Chemical Products ($926k).

During 2017, Mongolia had a large net trade with Philippines in the exports of Stone And Glass ($417k), Instruments ($2.32k), and Machines ($286).

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Philippines and Mongolia. This means that a dot/product with the flag of Philippines indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over Philippines.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Philippines () to Mongolia () (2022)

Exports from Mongolia () to Philippines () (2022)

Market Competitiveness

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

Comparative Advantage Philippines - Mongolia

Economic Complexity

Competitive Landscape

Product Space of Philippines () and Mongolia () (2022)

About

Latest Trends

About

Latest Trade

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Historical Data

Bilateral Trade by Products

Exports from Philippines () to Mongolia () (2022)

Exports from Mongolia () to Philippines () (2022)

Market Competitiveness

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

Comparative Advantage Philippines - Mongolia

Economic Complexity

Competitive Landscape

Product Space of Philippines () and Mongolia () (2022)

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