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2023
Flag → Flag
Exports $29.9MRnk 109 / 216
2023
Flag → Flag
Top Product $8.76MExcavation Machinery
2023
Flag → Flag
Exports $880kRnk 28 / 101
2023
Flag → Flag
Top Product $283kExcavation Machinery
2023
Flag
Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.32Rnk 123 / 132
2023
Flag  
GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
Flag
GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
Flag
 GDP$20.3BCURRENT US$
Rnk 120 / 195
2013-2023
Flag
GDP GROWTH61.5%CURRENT US$
Rnk 51 / 195
2023
Flag
GDP PC $55,517CURRENT US$
Rnk 19 / 195
2013-2023
Flag
GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC$5,839CURRENT US$
Rnk 116 / 196
2013-2023
Flag
GDP PC GROWTH34.5%CURRENT US$
Rnk 70 / 195

About

Sweden-Mongolia Trade: In 2023, Sweden exported $29.9M to Mongolia. The main products that Sweden exported to Mongolia were Excavation Machinery ($8.76M), Other Construction Vehicles ($3.12M), and Other Engines ($2.27M). Over the past 5 years the exports of Sweden to Mongolia have decreased at an annualized rate of 7.65%, from $44.5M in 2018 to $29.9M in 2023.

In 2023, Sweden did not export any services to Mongolia.

Mongolia-Sweden Trade: In 2023, Mongolia exported $880k to Sweden. The main products that Mongolia exported to Sweden were Excavation Machinery ($283k), Interchangeable Tool Parts ($142k), and Used Clothing ($62.8k). Over the past 5 years the exports of Mongolia to Sweden have increased at an annualized rate of 7.67%,  from $609k in 2018 to $880k in 2023.

In 2023, Mongolia did not export any services to Sweden.

Comparison: In 2023,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Latest Trends

October, 2024

About

Overview In October 2024, Sweden exported SEK33.1M and imported SEK267k from Mongolia, resulting in a positive trade balance of SEK32.8M. Between October 2023 and October 2024 the exports of Sweden have increased by SEK243k (0.74%) from SEK32.9M to SEK33.1M, while imports decreased by SEK-741k (-73.5%) from SEK1.01M to SEK267k.

Trade In October 2024, the top exports of Sweden to Mongolia were Excavation Machinery (SEK4.62M), Transmissions (SEK1.93M), Other Engines (SEK1.36M), Interchangeable Tool Parts (SEK1.35M), and Valves (SEK879k). In October 2024 the top imports of Sweden from Mongolia were Interchangeable Tool Parts (SEK276k), Other Engines (SEK151k), Excavation Machinery (SEK88k), Used Clothing (SEK81k), and Motor vehicles; parts and accessories (8701... (SEK43k).

Growth In October 2024, the increase in Sweden's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Electrical Control Boards (SEK627k or 713%), Transmissions (SEK433k or 28.8%), and Cars (SEK310k or 279%). In October 2024, the decrease in Sweden's year-by-year imports  from Mongolia was explained primarily by an decrease in product imports  in Used Clothing (SEK-56k or -40.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)SEK243k(0.74%)
IMPORT GROWTH (October 2023 - October 2024)SEK-741k(-73.5%)

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

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

For full datasets download visit Bulk Download page.

Explore Mongolia and Sweden Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sweden exported $29.9M to Mongolia. The main products exported from Sweden to Mongolia were Excavation Machinery ($8.76M), Other Construction Vehicles ($3.12M), and Other Engines ($2.27M). During the last 5 years the exports of Sweden to Mongolia have decreased at an annualized rate of 7.65%, from $44.5M in 2018 to $29.9M in 2023.

In 2018, Mongolia exported $880k to Sweden. The main products exported from Mongolia to Sweden were Excavation Machinery ($283k), Interchangeable Tool Parts ($142k), and Used Clothing ($62.8k). During the last 5 years the exports of Mongolia to Sweden have increased at an annualized rate of 7.67%, from $609k in 2023 to $880k in 2018.

Exports from Sweden (Flag) to Mongolia (Flag) (2023)

Exports from Mongolia (Flag) to Sweden (Flag) (2023)

Market Competitiveness

Color
Sweden
Top DestinationGermany$18.4B
Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from Sweden than Mongolia included Germany ($18.4B), United States ($18.1B), and Denmark ($14.4B).

In 2023, countries that imported more from Mongolia than Sweden included China ($13.1B).

Difference in imports from Mongolia (Flag) and Sweden (Flag) (2023)

Comparative Advantage Sweden - Mongolia

Flow
Scale

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

During 2023, Sweden had a large net trade with Mongolia in the exports of Machines ($22.1M), Metals ($4.08M), and Plastics and Rubbers ($1.32M).

During 2018, Mongolia had a large net trade with Sweden in the exports of Machines ($451k), Metals ($205k), and Textiles ($184k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sweden Mongolia+$1.62MDelivery Trucks
Top Product Potential Mongolia Sweden+$268kKnit 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 Sweden and Mongolia. This means that a dot/product with the flag of Sweden indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over Sweden.

Product Space of Sweden (Flag) and Mongolia (Flag) (2023)

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