2022
Exports
$1.34MWorld Rnk 153 / 226
Flag Rnk 29 / 92
2022
PRODUCT COMPLEXITY IN Iron or steel articles
1.68Rnk 27 / 1025
2022
Imports
$403MWorld Rnk 90 / 225
Flag Rnk 5 / 96
2022
ECONOMIC COMPLEXITY of Mongolia
-1.26Rnk 120 / 133

About

Exports In 2022, Mongolia exported $1.34M in Iron or steel articles, making it the 153rd largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 29th most exported product in Mongolia. The main destination of Iron or steel articles exports from Mongolia are: Singapore ($439k), Japan ($335k), China ($293k), Russia ($110k), and South Korea ($53.2k).

The fastest growing export markets for Iron or steel articles of Mongolia between 2021 and 2022 were Singapore ($294k), South Korea ($51.3k), and Fiji ($12.2k).

Imports In 2022, Mongolia imported $403M in Iron or steel articles, becoming the 90th largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 5th most imported product in Mongolia. Mongolia imports Iron or steel articles primarily from: China ($325M), Russia ($18.3M), Turkey ($10.3M), South Korea ($7.81M), and Vietnam ($6.32M).

The fastest growing import markets in Iron or steel articles for Mongolia between 2021 and 2022 were China ($118M), Vietnam ($6.28M), and India ($4.21M).

Latest Trends

Nov 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron or steel articles. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.34M
IMPORTS (2022)$403M
NET TRADE (2022)-$401M

In 2022, Mongolia exported $1.34M in Iron or steel articles. The main destinations of Mongolia exports on Iron or steel articles were Singapore ($439k), Japan ($335k), China ($293k), Russia ($110k), and South Korea ($53.2k).

In 2022, Mongolia imported $403M in Iron or steel articles, mainly from China ($325M), Russia ($18.3M), Turkey ($10.3M), South Korea ($7.81M), and Vietnam ($6.32M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR Mongolia WERE (2021 - 2022):
Singapore$294k (203%)
South Korea$51.3k (2.75k%)
Fiji$12.2k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY Mongolia WERE (2021 - 2022):
Japan-$300k (-47.3%)
Russia-$161k (-59.5%)
China-$131k (-30.9%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Mongolia's main exporting competitors in Iron or steel articles were:
China $109B
Germany $33.5B
Italy $22.2B
In 2022, Mongolia's main importing competitors in Iron or steel articles were:

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $285k
TOP IMPORT POTENTIALChina+ $56.6M

Iron or steel articles’s highest export potential is Japan. With an export gap of $285k.   Iron or steel articles’s highest import potential is China with an import gap of $56.6M.

See methodology.

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