Mongolia (MNG) and Colombia (COL) Trade | The Observatory of Economic Complexity

About

Mongolia-Colombia Trade: In 2022, Mongolia exported $8.44k to Colombia. The main products that Mongolia exported to Colombia were Cars ($8.36k), Knit Socks and Hosiery ($47), and Motor vehicles; parts and accessories (8701 to 8705) ($36). Over the past 5 years the exports of Mongolia to Colombia have decreased at an annualized rate of 28.4%, from $44.8k in 2017 to $8.44k in 2022.

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

Colombia-Mongolia Trade: In 2022, Colombia exported $358k to Mongolia. The main products that Colombia exported to Mongolia were Coffee ($227k), Stone Processing Machines ($46.3k), and Cut Flowers ($20.1k). Over the past 5 years the exports of Colombia to Mongolia have increased at an annualized rate of 21.8%, from $134k in 2017 to $358k in 2022.

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

Comparison: In 2022, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B). That same year, Colombia ranked 58 in the Economic Complexity Index (ECI 0.11), and 53 in total exports ($60.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Mongolia exported $8.44k to Colombia. The main products exported from Mongolia to Colombia were Cars ($8.36k), Knit Socks and Hosiery ($47), and Motor vehicles; parts and accessories (8701 to 8705) ($36). During the last 5 years the exports of Mongolia to Colombia have decreased at an annualized rate of 28.4%, from $44.8k in 2017 to $8.44k in 2022.

In 2017, Colombia exported $358k to Mongolia. The main products exported from Colombia to Mongolia were Coffee ($227k), Stone Processing Machines ($46.3k), and Cut Flowers ($20.1k). During the last 5 years the exports of Colombia to Mongolia have increased at an annualized rate of 21.8%, from $134k in 2022 to $358k in 2017.

Exports from Mongolia () to Colombia () (2022)

Exports from Colombia () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Colombia ()

Mongolia Exports

Date

Jan 2019

Dec 2016

Colombia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$10.6B

Colombia
Top DestinationUnited States$15.6B

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

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

In 2022, countries that imported more from Colombia than Mongolia included United States ($15.6B), Panama ($5.84B), and Netherlands ($3.67B).

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

Comparative Advantage Mongolia - Colombia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Mongolia had a large net trade with Colombia in the exports of Transportation ($8.39k) and Textiles ($47).

During 2017, Colombia had a large net trade with Mongolia in the exports of Vegetable Products ($250k), Machines ($55.7k), and Foodstuffs ($38.3k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Colombia+$34.1kCars

Top Product Potential Colombia Mongolia+$219kCoffee

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Colombia () (2022)

Exports from Colombia () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Colombia ()

Mongolia Exports

Colombia Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Colombia

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring