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2023
Flag → Flag
Exports $157MRnk 146 / 220
2023
Flag → Flag
Top Product $27MCars
2023
Flag → Flag
Exports $29.9MRnk 6 / 101
2023
Flag → Flag
Top Product $17.7MOther Nuts
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.32Rnk 123 / 132
2023
Flag  
GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
Flag
GDP GROWTH64.2%CURRENT US$
Rnk 44 / 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 $82,769CURRENT US$
Rnk 9 / 195
2013-2023
Flag
GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195
2023
Flag
GDP PC$5,839CURRENT US$
Rnk 116 / 196
2013-2023
Flag
GDP PC GROWTH34.5%CURRENT US$
Rnk 70 / 195

About

United States-Mongolia Trade: In 2023, United States exported $157M to Mongolia. The main products that United States exported to Mongolia were Cars ($27M), Rubber Tires ($17.9M), and Combustion Engines ($13.9M). Over the past 5 years the exports of United States to Mongolia have decreased at an annualized rate of 4.56%, from $198M in 2018 to $157M in 2023.

In 2023, United States did not export any services to Mongolia.

Mongolia-United States Trade: In 2023, Mongolia exported $29.9M to United States. The main products that Mongolia exported to United States were Other Nuts ($17.7M), Knit Sweaters ($4.1M), and Tungsten Ore ($3.95M). Over the past 5 years the exports of Mongolia to United States have increased at an annualized rate of 23.2%,  from $10.5M in 2018 to $29.9M in 2023.

In 2023, Mongolia did not export any services to United States.

Comparison: In 2023,  United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T). That same year, Mongolia ranked 123 in the Economic Complexity Index (ECI -1.32), and 89 in total exports ($14.3B).

Company data: In 2023, leading companies such as were at the forefront of exporting goods from Mongolia to the United States. Conversely, were notable for importing products to Mongolia from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $28.5M and imported $2.38M from Mongolia, resulting in a positive trade balance of $26.1M. Between November 2023 and November 2024 the exports of United States have increased by $19.2M (207%) from $9.3M to $28.5M, while imports decreased by $-425k (-15.1%) from $2.81M to $2.38M.

Trade In November 2024, the top exports of United States to Mongolia were Cars ($2.28M), Delivery Trucks ($851k), Rubber Tires ($509k), Telephones ($387k), and Electric Motors ($360k). In November 2024 the top imports of United States from Mongolia were Other Nuts ($1.49M), Knit Sweaters ($555k), Motor vehicles; parts and accessories (8701... ($107k), Commodities not elsewhere specified ($62.8k), and Silicone ($42.4k).

Origins In November 2024 the exports of United States were mainly from Illinois ($9.41M), Utah ($6.21M), California ($5.91M), Texas ($1.1M), and Tennessee ($737k), while imports destinations were mainly California ($1.26M), Arizona ($287k), New York ($235k), Texas ($205k), and North Dakota ($49.2k).

Growth In November 2024, the increase in United States's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Delivery Trucks ($677k or 390%), Electric Motors ($354k or 6.02k%), and Stranded Iron Wire ($138k or 975%). In November 2024, the decrease in United States's year-by-year imports  from Mongolia was explained primarily by an decrease in product imports  in Knit Sweaters ($-389k or -41.2%), Knit Women's Suits ($-78.8k or -81.5%), and Blankets ($-57k or -92.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)$19.2M(207%)
IMPORT GROWTH (November 2023 - November 2024)$-425k(-15.1%)
MAIN EXPORTER (November 2024)Illinois$9.41M

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

To check Mongolia and United States trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Mongolia and United States Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, United States exported $157M to Mongolia. The main products exported from United States to Mongolia were Cars ($27M), Rubber Tires ($17.9M), and Combustion Engines ($13.9M). During the last 5 years the exports of United States to Mongolia have decreased at an annualized rate of 4.56%, from $198M in 2018 to $157M in 2023.

In 2018, Mongolia exported $29.9M to United States. The main products exported from Mongolia to United States were Other Nuts ($17.7M), Knit Sweaters ($4.1M), and Tungsten Ore ($3.95M). During the last 5 years the exports of Mongolia to United States have increased at an annualized rate of 23.2%, from $10.5M in 2023 to $29.9M in 2018.

Exports from United States (Flag) to Mongolia (Flag) (2023)

Exports from Mongolia (Flag) to United States (Flag) (2023)

Market Competitiveness

Color
United States
Top DestinationCanada$269B
Mongolia
Top DestinationChina$13.1B

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

In 2023, countries that imported more from United States than Mongolia included Canada ($269B), Mexico ($243B), and China ($154B).

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

Difference in imports from Mongolia (Flag) and United States (Flag) (2023)

Comparative Advantage United States - Mongolia

Flow
Scale

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

During 2023, United States had a large net trade with Mongolia in the exports of Machines ($56M), Transportation ($47.3M), and Plastics and Rubbers ($20.3M).

During 2018, Mongolia had a large net trade with United States in the exports of Vegetable Products ($17.8M), Textiles ($5.54M), and Mineral Products ($4.06M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United States Mongolia+$20.1MCars
Top Product Potential Mongolia United States+$5.59MKnit 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 United States and Mongolia. This means that a dot/product with the flag of United States indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over United States.

Product Space of United States (Flag) and Mongolia (Flag) (2023)

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