Vietnam (VNM) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

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Vietnam-Mongolia Trade: In 2022, Vietnam exported $81.9M to Mongolia. The main products that Vietnam exported to Mongolia were Broadcasting Equipment ($20.8M), Rice ($8.41M), and Iron Structures ($6.21M). Over the past 5 years the exports of Vietnam to Mongolia have increased at an annualized rate of 20.4%, from $32.3M in 2017 to $81.9M in 2022.

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

Mongolia-Vietnam Trade: In 2022, Mongolia exported $364k to Vietnam. The main products that Mongolia exported to Vietnam were Tungsten Ore ($305k) and Edible Offal ($59.3k). Over the past 5 years the exports of Mongolia to Vietnam have decreased at an annualized rate of 63.3%, from $54.9M in 2017 to $364k in 2022.

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

Comparison: In 2022, Vietnam ranked 55 in the Economic Complexity Index (ECI 0.2), and 19 in total exports ($399B). 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, Vietnam exported $81.9M to Mongolia. The main products exported from Vietnam to Mongolia were Broadcasting Equipment ($20.8M), Rice ($8.41M), and Iron Structures ($6.21M). During the last 5 years the exports of Vietnam to Mongolia have increased at an annualized rate of 20.4%, from $32.3M in 2017 to $81.9M in 2022.

In 2017, Mongolia exported $364k to Vietnam. The main products exported from Mongolia to Vietnam were Tungsten Ore ($305k) and Edible Offal ($59.3k). During the last 5 years the exports of Mongolia to Vietnam have decreased at an annualized rate of 63.3%, from $54.9M in 2022 to $364k in 2017.

Exports from Vietnam () to Mongolia () (2022)

Exports from Mongolia () to Vietnam () (2022)

Latest Data

Trade between Vietnam () and Mongolia ()

Mongolia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$117B

Mongolia
Top DestinationChina$10.6B

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

In 2022, countries that imported more from Vietnam than Mongolia included United States ($117B), China ($58.7B), and Japan ($25B).

In 2022, countries that imported more from Mongolia than Vietnam included Switzerland ($1.98B), Iran ($7.39M), and Sudan ($419k).

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

Comparative Advantage Vietnam - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Vietnam had a large net trade with Mongolia in the exports of Machines ($27.4M), Foodstuffs ($14.7M), and Vegetable Products ($9.21M).

During 2017, Mongolia had a large net trade with Vietnam in the exports of Mineral Products ($305k) and Animal Products ($59.3k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Vietnam Mongolia+$15.8MTelephones

Top Product Potential Mongolia Vietnam+$49.6kTungsten Ore

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

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Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Mongolia () (2022)

Exports from Mongolia () to Vietnam () (2022)

Latest Data

Trade between Vietnam () and Mongolia ()

Mongolia Exports

Market Competitiveness

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

Comparative Advantage Vietnam - Mongolia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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