2022
Flag  
GDP
$301BCURRENT US$
Rnk 45 / 186
2012-2022
Flag
GDP GROWTH
12.7%CURRENT US$
Rnk 142 / 186
2022
Flag
 GDP
$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH
36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
GDP PC 
$15,356CURRENT US$
Rnk 62 / 186
2012-2022
Flag
GDP PC GROWTH
-0.33%CURRENT US$
Rnk 144 / 186
2022
Flag
GDP PC
$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH
12.4%CURRENT US$
Rnk 107 / 186

About

Chile-Mongolia Trade: In 2022, Chile exported $4.42M to Mongolia. The main products that Chile exported to Mongolia were Vehicle Bodies (including cabs) for the motor vehicles (8701 to 8705) ($2.16M), Wine ($507k), and Excavation Machinery ($494k). Over the past 5 years the exports of Chile to Mongolia have increased at an annualized rate of 41.3%, from $784k in 2017 to $4.42M in 2022.

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

Mongolia-Chile Trade: In 2022, Mongolia exported $37.3k to Chile. The main products that Mongolia exported to Chile were Knit Men's Shirts ($16.2k), Knit Women's Shirts ($12.1k), and Knit Sweaters ($6.88k). Over the past 5 years the exports of Mongolia to Chile have increased at an annualized rate of 7.36%,  from $26.1k in 2017 to $37.3k in 2022.

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

Comparison: In 2022,  Chile ranked 74 in the Economic Complexity Index (ECI -0.18), and 44 in total exports ($99B). 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
Value

In 2022, Chile exported $4.42M to Mongolia. The main products exported from Chile to Mongolia were Vehicle Bodies (including cabs) for the motor vehicles (8701 to 8705) ($2.16M), Wine ($507k), and Excavation Machinery ($494k). During the last 5 years the exports of Chile to Mongolia have increased at an annualized rate of 41.3%, from $784k in 2017 to $4.42M in 2022.

In 2017, Mongolia exported $37.3k to Chile. The main products exported from Mongolia to Chile were Knit Men's Shirts ($16.2k), Knit Women's Shirts ($12.1k), and Knit Sweaters ($6.88k). During the last 5 years the exports of Mongolia to Chile have increased at an annualized rate of 7.36%, from $26.1k in 2022 to $37.3k in 2017.

Exports from Chile (Flag) to Mongolia (Flag) (2022)

Exports from Mongolia (Flag) to Chile (Flag) (2022)

Market Competitiveness

Color
Chile
Top Destination
China$38.5B
Mongolia
Top Destination
China$10.6B

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

In 2022, countries that imported more from Chile than Mongolia included China ($38.5B), United States ($13.9B), and Japan ($7.43B).

In 2022, countries that imported more from Mongolia than Chile included Switzerland ($1.98B), Singapore ($346M), and Iran ($7.39M).

Difference in imports from Mongolia (Flag) and Chile (Flag) (2022)

Comparative Advantage Chile - Mongolia

Flow
Scale

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

During 2022, Chile had a large net trade with Mongolia in the exports of Transportation ($2.16M), Machines ($942k), and Vegetable Products ($676k).

During 2017, Mongolia had a large net trade with Chile in the exports of Textiles ($35.4k), Metals ($1.01k), and Mineral Products ($435).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Chile Mongolia+$289kWine
Top Product Potential Mongolia Chile+$72.8kKnit 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 Chile and Mongolia. This means that a dot/product with the flag of Chile indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over Chile.

Product Space of Chile (Flag) and Mongolia (Flag) (2022)

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