Russia (RUS) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Mongolia (MNG) Trade

2022

→

Exports $2.65BRnk 64 / 0

2022

→

Exports $112MRnk 49 / 0

2023

Economic Complexity (ECI) ECI 0.3Rnk 50 / 132

2023

Economic Complexity (ECI) ECI -1.32Rnk 123 / 132

2023

GDP$2.02TCURRENT US$
Rnk 11 / 195

2013-2023

GDP GROWTH-11.8%CURRENT US$
Rnk 183 / 195

2023

GDP$20.3BCURRENT US$
Rnk 120 / 195

2013-2023

GDP GROWTH61.5%CURRENT US$
Rnk 51 / 195

2023

GDP PC $13,817CURRENT US$
Rnk 74 / 195

2013-2023

GDP PC GROWTH-13.3%CURRENT US$
Rnk 170 / 195

2023

GDP PC$5,839CURRENT US$
Rnk 116 / 196

2013-2023

GDP PC GROWTH34.5%CURRENT US$
Rnk 70 / 195

Image 1

Image by Sam Greenhalgh
Link: https://flic.kr/p/9qSwNm

Image 2

Image by Paulo Philippidis
Link: https://flic.kr/p/8uDRi7

Latest Trends
Historical Data
Potential Exports
Economic Complexity

About

Russia-Mongolia Trade: In 2022, Russia exported $2.65B to Mongolia. The main products that Russia exported to Mongolia were N/A. Over the past 5 years the exports of Russia to Mongolia have increased at an annualized rate of 15.3%, from $1.3B in 2017 to $2.65B in 2022.

In 2020, Russia exported services to Mongolia worth $97.4M, with Communications services ($44.9M), Transportation ($27.1M), and Travel ($12.9M) being the largest in terms of value.

Mongolia-Russia Trade: In 2022, Mongolia exported $112M to Russia. The main products that Mongolia exported to Russia were N/A. Over the past 5 years the exports of Mongolia to Russia have increased at an annualized rate of 10.5%, from $68.2M in 2017 to $112M in 2022.

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

Comparison: In 2023, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $99.8M and imported $2.16M from Mongolia, resulting in a positive trade balance of $97.6M. Between January 2021 and January 2022 the exports of Russia have increased by $752k (0.76%) from $99M to $99.8M, while imports decreased by $-1.98M (-47.8%) from $4.14M to $2.16M.

Trade In January 2022, the top exports of Russia to Mongolia were Refined Petroleum ($45.8M), Wheat ($20.5M), Nitrogenous Fertilizers ($3.19M), Electricity ($2.76M), and Seed Oils ($2.48M). In January 2022 the top imports of Russia from Mongolia were Feldspar ($3.32M), Iron Railway Products ($271k), Knit Socks and Hosiery ($110k), Knit Sweaters ($75.8k), and Hard Liquor ($65.2k).

Origins In January 2022 the exports of Russia were mainly from KEMEROVO REGION ($23.6M), SAMARA REGION ($13.9M), MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($11.6M), IRKUTSK REGION ($5.25M), and REPUBLIC OF BURYATIA ($4.4M), while imports destinations were mainly IRKUTSK REGION ($540k), MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($258k), KEMEROVO REGION ($209k), REPUBLIC OF BURYATIA ($151k), and PERM TERRITORY ($134k).

Growth In January 2022, the increase in Russia's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Wheat ($20.4M or 27.7k%), Seed Oils ($1.89M or 320%), and Soybean Oil ($766k or 1.44k%). In January 2022, the decrease in Russia's year-by-year imports from Mongolia was explained primarily by an decrease in product imports in Electricity ($-5.38k or -14.5%) and Other Non-Knit Clothing Accessories ($-415 or -30.1%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$752k(0.76%)

IMPORT GROWTH (January 2021 - January 2022)$-1.98M(-47.8%)

MAIN EXPORTER (January 2022)KEMEROVO REGION$23.6M

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Russia exported $2.65B to Mongolia. There were not main exports from Russia to Mongolia in 2022. During the last 5 years the exports of Russia to Mongolia have increased at an annualized rate of 15.3%, from $1.3B in 2017 to $2.65B in 2022.

In 2017, Mongolia exported $112M to Russia. There were not main exports from Mongolia to Russia in 2017. During the last 5 years the exports of Mongolia to Russia have increased at an annualized rate of 10.5%, from $68.2M in 2022 to $112M in 2017.

Exports from Russia () to Mongolia () (2022)

Exports from Mongolia () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$129B

Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from Russia than Mongolia included China ($129B), India ($66.1B), and Turkey ($31B).

In 2023, countries that imported more from Mongolia than Russia included Suriname ($52k), Andorra ($45k), and Fiji ($5.35k).

Difference in imports from Mongolia () and Russia () (2023)

Comparative Advantage Russia - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Mongolia in the exports of .

During 2017, Mongolia had a large net trade with Russia in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Mongolia+$9.84MPetroleum Gas

Top Product Potential Mongolia Russia+$3.46MPrecious Metal Ore

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

Year

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

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

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