Venezuela (VEN) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Venezuela-Mongolia Trade: In 2022, Venezuela exported $2.08k to Mongolia. The main products that Venezuela exported to Mongolia were Gas and Liquid Flow Measuring Instruments ($2.03k) and Other Rubber Products ($47). Over the past 7 years the exports of Venezuela to Mongolia have increased at an annualized rate of 14.6%, from $800 in 2015 to $2.08k in 2022.

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

Mongolia-Venezuela Trade: In 2022, Mongolia exported $11k to Venezuela. The main products that Mongolia exported to Venezuela were N/A. Over the past 7 years the exports of Mongolia to Venezuela have decreased at an annualized rate of 1.94%, from $12.1k in 2015 to $11k in 2022.

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

Comparison: In 2022, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Venezuela exported $2.08k to Mongolia. The main products exported from Venezuela to Mongolia were Gas and Liquid Flow Measuring Instruments ($2.03k) and Other Rubber Products ($47). During the last 7 years the exports of Venezuela to Mongolia have increased at an annualized rate of 14.6%, from $800 in 2015 to $2.08k in 2022.

In 2001, Mongolia exported $11k to Venezuela. There were not main exports from Mongolia to Venezuela in 2001. During the last 5 years the exports of Mongolia to Venezuela have decreased at an annualized rate of 1.94%, from $12.1k in 2006 to $11k in 2001.

Exports from Venezuela () to Mongolia () (2022)

Exports from Mongolia () to Venezuela () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Venezuela
Top DestinationChina$703M

Mongolia
Top DestinationChina$10.6B

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

In 2022, countries that imported more from Venezuela than Mongolia included Turkey ($597M), Spain ($518M), and United States ($438M).

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

Difference in imports from Mongolia () and Venezuela () (2022)

Comparative Advantage Venezuela - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Venezuela had a large net trade with Mongolia in the exports of Instruments ($2.03k) and Plastics and Rubbers ($47).

During 2001, Mongolia had a large net trade with Venezuela in the exports of .

Potential Exports

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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Venezuela () to Mongolia () (2022)

Exports from Mongolia () to Venezuela () (2022)

Market Competitiveness

Difference in imports from Mongolia () and Venezuela () (2022)

Comparative Advantage Venezuela - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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