2022
Flag  
GDP
$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH
13.5%CURRENT US$
Rnk 139 / 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 
$45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH
7.92%CURRENT US$
Rnk 122 / 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

United Kingdom-Mongolia Trade: In 2022, United Kingdom exported $35.3M to Mongolia. The main products that United Kingdom exported to Mongolia were Iron Railway Products ($5.45M), Hard Liquor ($3.85M), and Cars ($3.45M). Over the past 5 years the exports of United Kingdom to Mongolia have increased at an annualized rate of 3.21%, from $30.1M in 2017 to $35.3M in 2022.

In 2022, United Kingdom did not export any services to Mongolia.

Mongolia-United Kingdom Trade: In 2022, Mongolia exported $19.4M to United Kingdom. The main products that Mongolia exported to United Kingdom were Prepared Wool or Animal Hair ($7.13M), Animal Hair ($6.3M), and Knit Sweaters ($3.06M). Over the past 5 years the exports of Mongolia to United Kingdom have decreased at an annualized rate of 50.6%,  from $663M in 2017 to $19.4M in 2022.

In 2022, Mongolia did not export any services to United Kingdom.

Comparison: In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). 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, United Kingdom exported $35.3M to Mongolia. The main products exported from United Kingdom to Mongolia were Iron Railway Products ($5.45M), Hard Liquor ($3.85M), and Cars ($3.45M). During the last 5 years the exports of United Kingdom to Mongolia have increased at an annualized rate of 3.21%, from $30.1M in 2017 to $35.3M in 2022.

In 2017, Mongolia exported $19.4M to United Kingdom. The main products exported from Mongolia to United Kingdom were Prepared Wool or Animal Hair ($7.13M), Animal Hair ($6.3M), and Knit Sweaters ($3.06M). During the last 5 years the exports of Mongolia to United Kingdom have decreased at an annualized rate of 50.6%, from $663M in 2022 to $19.4M in 2017.

Exports from United Kingdom (Flag) to Mongolia (Flag) (2022)

Exports from Mongolia (Flag) to United Kingdom (Flag) (2022)

Market Competitiveness

Color
United Kingdom
Top Destination
N/AN/A
Mongolia
Top Destination
N/AN/A

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

N/A

N/A

Difference in imports from Mongolia (Flag) and United Kingdom (Flag) (2022)

Comparative Advantage United Kingdom - Mongolia

Flow
Scale

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

During 2022, United Kingdom had a large net trade with Mongolia in the exports of Machines ($8.59M), Foodstuffs ($6.95M), and Metals ($6.37M).

During 2017, Mongolia had a large net trade with United Kingdom in the exports of Textiles ($18.3M), Vegetable Products ($474k), and Machines ($223k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom Mongolia+$5.69MCars
Top Product Potential Mongolia United Kingdom+$1.92MKnit 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 United Kingdom and Mongolia. This means that a dot/product with the flag of United Kingdom indicates it has a comparative advantage over Mongolia. Similarly, a dot/product with the flag of Mongolia indicates it has a comparative advantage over United Kingdom.

Product Space of United Kingdom (Flag) and Mongolia (Flag) (2022)

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