2022
Flag  
GDP
$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
Flag
GDP GROWTH
46.6%CURRENT US$
Rnk 71 / 186
2022
Flag
 GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
GDP PC 
$9,394CURRENT US$
Rnk 80 / 186
2012-2022
Flag
GDP PC GROWTH
56.1%CURRENT US$
Rnk 32 / 186
2022
Flag
GDP PC
$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH
12.4%CURRENT US$
Rnk 107 / 186

About

Serbia-Mongolia Trade: In 2022, Serbia exported $1.1M to Mongolia. The main products that Serbia exported to Mongolia were Plastic Pipes ($148k), Other Furniture ($142k), and Central Heating Boilers ($91.6k). Over the past 5 years the exports of Serbia to Mongolia have decreased at an annualized rate of 1.06%, from $1.16M in 2017 to $1.1M in 2022.

In 2009, Serbia exported services to Mongolia worth $168k, with Personal, cultural, and recreational services ($90.3k), Compensation of employees ($55.8k), and Workers' remittances ($20.8k) being the largest in terms of value.

Mongolia-Serbia Trade: In 2022, Mongolia exported $22.3k to Serbia. The main products that Mongolia exported to Serbia were Hypochlorites ($8.84k), Sulfates ($3.94k), and Other Furniture ($2.34k). Over the past 5 years the exports of Mongolia to Serbia have increased at an annualized rate of 25.9%,  from $2.23k in 2017 to $22.3k in 2022.

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

Comparison: In 2022,  Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B). That same year, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Serbia exported $1.1M to Mongolia. The main products exported from Serbia to Mongolia were Plastic Pipes ($148k), Other Furniture ($142k), and Central Heating Boilers ($91.6k). During the last 5 years the exports of Serbia to Mongolia have decreased at an annualized rate of 1.06%, from $1.16M in 2017 to $1.1M in 2022.

In 2017, Mongolia exported $22.3k to Serbia. The main products exported from Mongolia to Serbia were Hypochlorites ($8.84k), Sulfates ($3.94k), and Other Furniture ($2.34k). During the last 5 years the exports of Mongolia to Serbia have increased at an annualized rate of 25.9%, from $2.23k in 2022 to $22.3k in 2017.

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

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

Latest Data

Trade between Serbia (Flag) and Mongolia (Flag)

Serbia Exports

Market Competitiveness

Color
Serbia
Top Destination
Germany$4B
Mongolia
Top Destination
China$10.6B

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

In 2022, countries that imported more from Serbia than Mongolia included Germany ($4B), Bosnia and Herzegovina ($2.14B), and Italy ($2.1B).

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

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

Comparative Advantage Serbia - Mongolia

Flow
Scale

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

During 2022, Serbia had a large net trade with Mongolia in the exports of Machines ($212k), Plastics and Rubbers ($152k), and Metals ($146k).

During 2017, Mongolia had a large net trade with Serbia in the exports of Chemical Products ($12.8k), Miscellaneous ($4.74k), and Textiles ($3.92k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Serbia Mongolia+$160kOther Furniture
Top Product Potential Mongolia Serbia+$6.03kPrefabricated Buildings

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

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

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