Thailand (THA) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Thailand-Mongolia Trade: In 2023, Thailand exported $21.1M to Mongolia. The main products that Thailand exported to Mongolia were Uncoated Paper ($3.64M), Flavored Water ($1.49M), and Raw Sugar ($1.3M). Over the past 5 years the exports of Thailand to Mongolia have decreased at an annualized rate of 9.86%, from $35.5M in 2018 to $21.1M in 2023.

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

Mongolia-Thailand Trade: In 2023, Mongolia exported $67.1M to Thailand. The main products that Mongolia exported to Thailand were Molybdenum Ore ($67M), Hard Liquor ($48.2k), and Used Rubber Tires ($15.8k). Over the past 5 years the exports of Mongolia to Thailand have decreased at an annualized rate of 0.86%, from $70.1M in 2018 to $67.1M in 2023.

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

Comparison: In 2023, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Thailand exported $21.1M to Mongolia. The main products exported from Thailand to Mongolia were Uncoated Paper ($3.64M), Flavored Water ($1.49M), and Raw Sugar ($1.3M). During the last 5 years the exports of Thailand to Mongolia have decreased at an annualized rate of 9.86%, from $35.5M in 2018 to $21.1M in 2023.

In 2018, Mongolia exported $67.1M to Thailand. The main products exported from Mongolia to Thailand were Molybdenum Ore ($67M), Hard Liquor ($48.2k), and Used Rubber Tires ($15.8k). During the last 5 years the exports of Mongolia to Thailand have decreased at an annualized rate of 0.86%, from $70.1M in 2023 to $67.1M in 2018.

Exports from Thailand () to Mongolia () (2023)

Exports from Mongolia () to Thailand () (2023)

Latest Data

Trade between Thailand () and Mongolia ()

Thailand Exports

Date

Mongolia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$58.5B

Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from Thailand than Mongolia included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

In 2023, no countries were registered that imported more from Mongolia than from Thailand.

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

Comparative Advantage Thailand - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Thailand had a large net trade with Mongolia in the exports of Foodstuffs ($7.38M), Paper Goods ($3.82M), and Machines ($3.51M).

During 2018, Mongolia had a large net trade with Thailand in the exports of Mineral Products ($67M), Foodstuffs ($50.2k), and Plastics and Rubbers ($15.9k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Thailand Mongolia+$5.17MDelivery Trucks

Top Product Potential Mongolia Thailand+$121kGas Turbines

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

About

Historical Data

Bilateral Trade by Products

Exports from Thailand () to Mongolia () (2023)

Exports from Mongolia () to Thailand () (2023)

Latest Data

Trade between Thailand () and Mongolia ()

Thailand Exports

Mongolia Exports

Market Competitiveness

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

Comparative Advantage Thailand - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Thailand () and Mongolia () (2023)

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