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Pricing

2022
Flag → Flag
Exports $19.4MRnk 11 / 113
2022
Flag → Flag
Top Product $7.13MPrepared Wool or Animal Hair
2022
Flag → Flag
Exports $35.3MRnk 140 / 224
2022
Flag → Flag
Top Product $5.45MIron Railway Products
2022
Flag
Economic Complexity (ECI) ECI -1.26Rnk 120 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
Flag  
GDP$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
 GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
Flag
GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
Flag
GDP PC $4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH12.4%CURRENT US$
Rnk 107 / 186
2022
Flag
GDP PC$45,850CURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186

About

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.

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.

Comparison: In 2022,  Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B). That same year, United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, 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 2017 to $19.4M in 2022.

In 2017, 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 2022 to $35.3M in 2017.

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

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

Latest Data

Trade between Mongolia (Flag) and United Kingdom (Flag)

Mongolia Exports

United Kingdom Exports

Market Competitiveness

Color
Mongolia
Top DestinationN/AN/A
United Kingdom
Top DestinationN/AN/A

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

N/A

N/A

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

Comparative Advantage Mongolia - United Kingdom

Flow
Scale

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

During 2022, Mongolia had a large net trade with United Kingdom in the exports of Textiles ($18.3M), Vegetable Products ($474k), and Machines ($223k).

During 2017, United Kingdom had a large net trade with Mongolia in the exports of Machines ($8.59M), Foodstuffs ($6.95M), and Metals ($6.37M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mongolia United Kingdom+$1.92MKnit Sweaters
Top Product Potential United Kingdom Mongolia+$5.69MCars

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

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

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