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Pricing

2022
Flag → Flag
Exports $241MRnk 128 / 219
2022
Flag → Flag
Top Product $56.7MPlanes, Helicopters, and/or Spacecraft
2022
Flag → Flag
Exports $24.2MRnk 9 / 113
2022
Flag → Flag
Top Product $10.7MOther Nuts
2022
Flag
Economic Complexity (ECI) ECI 1.47Rnk 10 / 133
2022
Flag
Economic Complexity (ECI) ECI -1.26Rnk 120 / 133
2022
Flag  
GDP$25.5TCURRENT US$
Rnk 1 / 186
2012-2022
Flag
GDP GROWTH56.7%CURRENT US$
Rnk 45 / 186
2022
Flag
 GDP$16.8BCURRENT US$
Rnk 126 / 186
2012-2022
Flag
GDP GROWTH36.8%CURRENT US$
Rnk 90 / 186
2022
Flag
GDP PC $76,399CURRENT US$
Rnk 8 / 186
2012-2022
Flag
GDP PC GROWTH47.5%CURRENT US$
Rnk 39 / 186
2022
Flag
GDP PC$4,947CURRENT US$
Rnk 112 / 186
2012-2022
Flag
GDP PC GROWTH12.4%CURRENT US$
Rnk 107 / 186

About

United States-Mongolia Trade: In 2022, United States exported $241M to Mongolia. The main products that United States exported to Mongolia were Planes, Helicopters, and/or Spacecraft ($56.7M), Cars ($43M), and Delivery Trucks ($23.2M). Over the past 5 years the exports of United States to Mongolia have increased at an annualized rate of 8.59%, from $159M in 2017 to $241M in 2022.

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

Mongolia-United States Trade: In 2022, Mongolia exported $24.2M to United States. The main products that Mongolia exported to United States were Other Nuts ($10.7M), Knit Sweaters ($4.43M), and Molybdenum Ore ($1.72M). Over the past 5 years the exports of Mongolia to United States have increased at an annualized rate of 15.3%,  from $11.9M in 2017 to $24.2M in 2022.

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

Comparison: In 2022,  United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Mongolia ranked 120 in the Economic Complexity Index (ECI -1.26), and 94 in total exports ($13.6B).

Company data: In 2023, leading companies such as were at the forefront of exporting goods from Mongolia to the United States. Conversely, were notable for importing products to Mongolia from the United States.

Latest Trends

August, 2024

About

Overview In August 2024, United States exported $42M and imported $1.61M from Mongolia, resulting in a positive trade balance of $40.4M. Between August 2023 and August 2024 the exports of United States have increased by $31.3M (293%) from $10.7M to $42M, while imports decreased by $-474k (-22.7%) from $2.09M to $1.61M.

Trade In August 2024, the top exports of United States to Mongolia were Cars ($2.28M), Delivery Trucks ($851k), Rubber Tires ($509k), Telephones ($387k), and Electric Motors ($360k). In August 2024 the top imports of United States from Mongolia were Other Nuts ($1.49M), Knit Sweaters ($555k), Motor vehicles; parts and accessories (8701... ($107k), Commodities not elsewhere specified ($62.8k), and Silicone ($42.4k).

Origins In August 2024 the exports of United States were mainly from Illinois ($19M), Texas ($8.51M), California ($6.34M), South Carolina ($2.47M), and Oregon ($1.98M), while imports destinations were mainly Arizona ($571k), Idaho ($308k), California ($305k), Ohio ($68.6k), and New Jersey ($58.3k).

Growth In August 2024, the increase in United States's year-by-year exports to Mongolia was explained primarily by an increase in product exports in Delivery Trucks ($677k or 390%), Electric Motors ($354k or 6.02k%), and Stranded Iron Wire ($138k or 975%). In August 2024, the decrease in United States's year-by-year imports  from Mongolia was explained primarily by an decrease in product imports  in Knit Sweaters ($-389k or -41.2%), Knit Women's Suits ($-78.8k or -81.5%), and Blankets ($-57k or -92.9%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$31.3M(293%)
IMPORT GROWTH (August 2023 - August 2024)$-474k(-22.7%)
MAIN EXPORTER (August 2024)Illinois$19M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Mongolia and United States trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Mongolia and United States Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United States exported $241M to Mongolia. The main products exported from United States to Mongolia were Planes, Helicopters, and/or Spacecraft ($56.7M), Cars ($43M), and Delivery Trucks ($23.2M). During the last 5 years the exports of United States to Mongolia have increased at an annualized rate of 8.59%, from $159M in 2017 to $241M in 2022.

In 2017, Mongolia exported $24.2M to United States. The main products exported from Mongolia to United States were Other Nuts ($10.7M), Knit Sweaters ($4.43M), and Molybdenum Ore ($1.72M). During the last 5 years the exports of Mongolia to United States have increased at an annualized rate of 15.3%, from $11.9M in 2022 to $24.2M in 2017.

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

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

Market Competitiveness

Color
United States
Top DestinationCanada$308B
Mongolia
Top DestinationChina$10.6B

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

In 2022, countries that imported more from United States than Mongolia included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, no countries were registered that imported more from Mongolia than from United States.

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

Comparative Advantage United States - Mongolia

Flow
Scale

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

During 2022, United States had a large net trade with Mongolia in the exports of Transportation ($133M), Machines ($46.2M), and Foodstuffs ($12.6M).

During 2017, Mongolia had a large net trade with United States in the exports of Vegetable Products ($10.7M), Textiles ($6.58M), and Mineral Products ($2.48M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United States Mongolia+$20.1MCars
Top Product Potential Mongolia United States+$5.59MKnit 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 States and Mongolia. This means that a dot/product with the flag of United States 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 States.

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

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