Finland (FIN) and Mongolia (MNG) Trade | The Observatory of Economic Complexity

About

Finland-Mongolia Trade: In 2022, Finland exported $27.4M to Mongolia. The main products that Finland exported to Mongolia were Large Construction Vehicles ($7.6M), Stone Processing Machines ($3.69M), and Prefabricated Buildings ($3.29M). Over the past 5 years the exports of Finland to Mongolia have increased at an annualized rate of 8.78%, from $18M in 2017 to $27.4M in 2022.

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

Mongolia-Finland Trade: In 2022, Mongolia exported $9.15M to Finland. The main products that Mongolia exported to Finland were Precious Metal Ore ($8.48M), Feldspar ($623k), and Other Plastic Products ($14.5k). Over the past 5 years the exports of Mongolia to Finland have increased at an annualized rate of 36.3%, from $1.43M in 2017 to $9.15M in 2022.

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

Comparison: In 2022, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B). 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, Finland exported $27.4M to Mongolia. The main products exported from Finland to Mongolia were Large Construction Vehicles ($7.6M), Stone Processing Machines ($3.69M), and Prefabricated Buildings ($3.29M). During the last 5 years the exports of Finland to Mongolia have increased at an annualized rate of 8.78%, from $18M in 2017 to $27.4M in 2022.

In 2017, Mongolia exported $9.15M to Finland. The main products exported from Mongolia to Finland were Precious Metal Ore ($8.48M), Feldspar ($623k), and Other Plastic Products ($14.5k). During the last 5 years the exports of Mongolia to Finland have increased at an annualized rate of 36.3%, from $1.43M in 2022 to $9.15M in 2017.

Exports from Finland () to Mongolia () (2022)

Exports from Mongolia () to Finland () (2022)

Latest Data

Trade between Finland () and Mongolia ()

Finland Exports

Date

Mongolia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationGermany$9.99B

Mongolia
Top DestinationChina$10.6B

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

In 2022, countries that imported more from Finland than Mongolia included Germany ($9.99B), United States ($9.17B), and Sweden ($9.1B).

In 2022, countries that imported more from Mongolia than Finland included China ($10.6B), Switzerland ($1.98B), and Iran ($7.39M).

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

Comparative Advantage Finland - Mongolia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Finland had a large net trade with Mongolia in the exports of Machines ($17.5M), Miscellaneous ($3.6M), and Transportation ($1.84M).

During 2017, Mongolia had a large net trade with Finland in the exports of Mineral Products ($9.1M), Textiles ($16.8k), and Plastics and Rubbers ($14.5k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Mongolia+$749kDelivery Trucks

Top Product Potential Mongolia Finland+$118kFeldspar

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

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to Mongolia () (2022)

Exports from Mongolia () to Finland () (2022)

Latest Data

Trade between Finland () and Mongolia ()

Finland Exports

Mongolia Exports

Market Competitiveness

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

Comparative Advantage Finland - Mongolia

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 Finland () and Mongolia () (2022)

Keep Exploring