Mongolia (MNG) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Mongolia-Armenia Trade: In 2022, Mongolia exported $50.3k to Armenia. The main products that Mongolia exported to Armenia were Ball Bearings ($19.1k), Transmissions ($16k), and Engine Parts ($9.27k). Over the past 7 years the exports of Mongolia to Armenia have increased at an annualized rate of 175%, from $42 in 2015 to $50.3k in 2022.

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

Armenia-Mongolia Trade: In 2022, Armenia exported $962k to Mongolia. The main products that Armenia exported to Mongolia were Hard Liquor ($297k), Chocolate ($291k), and Rolled Tobacco ($134k). Over the past 7 years the exports of Armenia to Mongolia have increased at an annualized rate of 51.6%, from $120k in 2015 to $962k in 2022.

In 2022, Armenia 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, Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Mongolia exported $50.3k to Armenia. The main products exported from Mongolia to Armenia were Ball Bearings ($19.1k), Transmissions ($16k), and Engine Parts ($9.27k). During the last 7 years the exports of Mongolia to Armenia have increased at an annualized rate of 175%, from $42 in 2015 to $50.3k in 2022.

In 2017, Armenia exported $962k to Mongolia. The main products exported from Armenia to Mongolia were Hard Liquor ($297k), Chocolate ($291k), and Rolled Tobacco ($134k). During the last 5 years the exports of Armenia to Mongolia have increased at an annualized rate of 51.6%, from $120k in 2022 to $962k in 2017.

Exports from Mongolia () to Armenia () (2022)

Exports from Armenia () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Armenia ()

Mongolia Exports

Date

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mongolia
Top DestinationChina$10.6B

Armenia
Top DestinationRussia$2.36B

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

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

In 2022, countries that imported more from Armenia than Mongolia included Russia ($2.36B), United Arab Emirates ($535M), and Georgia ($260M).

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

Comparative Advantage Mongolia - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Mongolia had a large net trade with Armenia in the exports of Machines ($50k) and Metals ($213).

During 2017, Armenia had a large net trade with Mongolia in the exports of Foodstuffs ($792k), Instruments ($112k), and Textiles ($22.6k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mongolia Armenia+$8.81kEngine Parts

Top Product Potential Armenia Mongolia+$202kHard Liquor

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

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Mongolia () to Armenia () (2022)

Exports from Armenia () to Mongolia () (2022)

Latest Data

Trade between Mongolia () and Armenia ()

Mongolia Exports

Armenia Exports

Market Competitiveness

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

Comparative Advantage Mongolia - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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