2022
Exports
$27.6MWorld Rnk 138 / 226
Flag Rnk 8 / 21
2022
PRODUCT COMPLEXITY IN Machines
2.21Rnk 2 / 1025
2022
Imports
$1.27BWorld Rnk 120 / 226
Flag Rnk 3 / 21
2022
ECONOMIC COMPLEXITY of Mongolia
-1.26Rnk 120 / 133

About

Exports In 2022, Mongolia exported $27.6M in Machines, making it the 138th largest exporter of Machines in the world. At the same year, Machines was the 8th most exported product in Mongolia. The main destination of Machines exports from Mongolia are: Japan ($5.64M), Russia ($5.54M), Singapore ($5.32M), Germany ($1.83M), and Austria ($1.78M).

The fastest growing export markets for Machines of Mongolia between 2021 and 2022 were Russia ($3.5M), Austria ($1.74M), and Germany ($1.64M).

Imports In 2022, Mongolia imported $1.27B in Machines, becoming the 120th largest importer of Machines in the world. At the same year, Machines was the 3rd most imported product in Mongolia. Mongolia imports Machines primarily from: China ($623M), South Korea ($79.3M), Russia ($66.8M), Kazakhstan ($51.4M), and United States ($46.2M).

The fastest growing import markets in Machines for Mongolia between 2021 and 2022 were China ($34.2M), Kazakhstan ($17.3M), and India ($12.7M).

Latest Trends

Jul 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 Machines. 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)$27.6M
IMPORTS (2022)$1.27B
NET TRADE (2022)-$1.25B

In 2022, Mongolia exported $27.6M in Machines. The main destinations of Mongolia exports on Machines were Japan ($5.64M), Russia ($5.54M), Singapore ($5.32M), Germany ($1.83M), and Austria ($1.78M).

In 2022, Mongolia imported $1.27B in Machines, mainly from China ($623M), South Korea ($79.3M), Russia ($66.8M), Kazakhstan ($51.4M), and United States ($46.2M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Machines EXPORT MARKETS FOR Mongolia WERE (2021 - 2022):
Russia$3.5M (172%)
Austria$1.74M (4.17k%)
Germany$1.64M (864%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machines BY Mongolia WERE (2021 - 2022):
United States-$1.45M (-45.1%)
Kazakhstan-$499k (-88.8%)
Poland-$384k (-92.9%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Mongolia's main exporting competitors in Machines were:
In 2022, Mongolia's main importing competitors in Machines were:

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Trade Value of Machines by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALRussia+ $4.44M
TOP IMPORT POTENTIALChina+ $423M

Machines’s highest export potential is Russia. With an export gap of $4.44M.   Machines’s highest import potential is China with an import gap of $423M.

See methodology.

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