Mongolia

Compare Mongolia →

MN · MNG · BACI 496 · latest data 2024

Exports

$14.8B USD, nominal · 2024

= $14,797 M85.8% over 5 yrs (up)

Imports

$8.4B USD, nominal · 2024

= $8,377 M31.7% over 5 yrs (up)

Trade balancesurplus

$6.4B USD, nominal · 2024

= $6,421 M

Total trade

$23.2B USD, nominal · 2024

= $23,174 M61.8% over 5 yrs (up)

World position: #84 of 225 exporters · top half · #123 of 225 importers · bottom half · 2024
World export share since 1995: +0.1 pp

Trade timeline

Mongolia's exports grew from $274M in 1995 to $14.8B in 2024; the 2024 balance was $6.4B.

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Exports, imports, trade balance and total trade of Mongolia per year, USD millions.
Year	Exports ($M)	Imports ($M)	Balance ($M)	Total ($M)
1995	$274 M	$261 M	$13 M	$535 M
1996	$553 M	$620 M	−$67 M	$1,174 M
1997	$574 M	$630 M	−$55 M	$1,204 M
1998	$442 M	$635 M	−$193 M	$1,077 M
1999	$410 M	$618 M	−$208 M	$1,028 M
2000	$612 M	$713 M	−$101 M	$1,325 M
2001	$639 M	$738 M	−$99 M	$1,377 M
2002	$596 M	$701 M	−$105 M	$1,297 M
2003	$750 M	$964 M	−$213 M	$1,714 M
2004	$1,001 M	$1,213 M	−$213 M	$2,214 M
2005	$1,200 M	$1,350 M	−$150 M	$2,549 M
2006	$1,714 M	$1,728 M	−$14 M	$3,442 M
2007	$2,146 M	$2,245 M	−$99 M	$4,391 M
2008	$2,055 M	$3,050 M	−$995 M	$5,106 M
2009	$1,675 M	$2,400 M	−$725 M	$4,075 M
2010	$3,097 M	$3,441 M	−$344 M	$6,539 M
2011	$4,373 M	$6,313 M	−$1,940 M	$10,686 M
2012	$4,472 M	$7,086 M	−$2,614 M	$11,558 M
2013	$4,558 M	$6,627 M	−$2,069 M	$11,185 M
2014	$6,204 M	$5,479 M	$725 M	$11,684 M
2015	$5,151 M	$3,994 M	$1,157 M	$9,146 M
2016	$5,728 M	$3,599 M	$2,129 M	$9,328 M
2017	$6,910 M	$4,636 M	$2,273 M	$11,546 M
2018	$7,598 M	$6,124 M	$1,474 M	$13,721 M
2019	$7,965 M	$6,359 M	$1,605 M	$14,324 M
2020	$8,310 M	$5,460 M	$2,850 M	$13,771 M
2021	$10,123 M	$7,051 M	$3,073 M	$17,174 M
2022	$13,032 M	$8,892 M	$4,140 M	$21,924 M
2023	$14,285 M	$6,017 M	$8,268 M	$20,303 M
2024	$14,797 M	$8,377 M	$6,421 M	$23,174 M

30 rows

World share & rank

World export share moved from 0.0% in 1995 to 0.1% in 2024; export rank #137 → #84.

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World export and import share in percent, and world ranks, of Mongolia per year.
Year	Export share (%)	Import share (%)	Export rank	Import rank
1995	0.01%	0.01%	#137	#163
1996	0.01%	0.01%	#130	#143
1997	0.01%	0.01%	#130	#146
1998	0.01%	0.01%	#137	#146
1999	0.01%	0.01%	#141	#147
2000	0.01%	0.01%	#139	#150
2001	0.01%	0.01%	#136	#148
2002	0.01%	0.01%	#139	#156
2003	0.01%	0.01%	#140	#155
2004	0.01%	0.01%	#137	#153
2005	0.01%	0.01%	#135	#154
2006	0.01%	0.01%	#132	#152
2007	0.02%	0.02%	#128	#148
2008	0.01%	0.02%	#136	#146
2009	0.01%	0.02%	#134	#151
2010	0.02%	0.02%	#121	#146
2011	0.02%	0.04%	#120	#128
2012	0.02%	0.04%	#119	#123
2013	0.03%	0.04%	#120	#128
2014	0.03%	0.03%	#112	#138
2015	0.03%	0.02%	#114	#141
2016	0.04%	0.02%	#107	#145
2017	0.04%	0.03%	#103	#139
2018	0.04%	0.03%	#104	#131
2019	0.04%	0.03%	#101	#126
2020	0.05%	0.03%	#95	#128
2021	0.05%	0.03%	#98	#130
2022	0.05%	0.04%	#95	#124
2023	0.06%	0.03%	#88	#139
2024	0.06%	0.04%	#84	#123

30 rows

Trading partners

China was Mongolia's top trading partner in 2024, at 78.4% of total trade; the top five partners covered 91.8%.

Year

Top partner share: 78.4%
Top-5 share: 91.8%
Partners: 101
Partner HHI (0–1): 0.620

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China $13.6B

Switzerland $857M

Italy $65M

South Korea $35M

United States $24M

Finland $24M

Japan $22M

France $18M

Hong Kong $15M

Germany $9M

Kazakhstan $4M

Poland $4M

Netherlands $2M

Türkiye $1M

Singapore $1M

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Top partners of Mongolia in 2024, USD millions.
Rank	Partner	Exports to ($M)	Imports from ($M)	Total ($M)	Balance ($M)
#1	China	$13,642 M	$4,524 M	$18,166 M	$9,118 M
#2	Japan	$22 M	$1,095 M	$1,117 M	−$1,074 M
#3	Switzerland	$857 M	$113 M	$970 M	$744 M
#4	South Korea	$35 M	$582 M	$617 M	−$546 M
#5	United States	$24 M	$380 M	$405 M	−$356 M
#6	Germany	$9 M	$235 M	$243 M	−$226 M
#7	Singapore	$1 M	$231 M	$231 M	−$230 M
#8	Italy	$65 M	$81 M	$145 M	−$16 M
#9	Türkiye	$1 M	$137 M	$138 M	−$136 M
#10	Kazakhstan	$4 M	$120 M	$124 M	−$116 M
#11	Poland	$4 M	$89 M	$93 M	−$86 M
#12	France	$18 M	$72 M	$90 M	−$53 M
#13	Hong Kong	$15 M	$59 M	$74 M	−$44 M
#14	Netherlands	$2 M	$68 M	$70 M	−$67 M
#15	Finland	$24 M	$40 M	$64 M	−$15 M

15 rows

Products & sectors

Product composition of Mongolia's trade in 2024.

Year

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Concentration & risk

Mongolia's export partners concentrated over 1995–2024 — HHI 0.253 → 0.853, a concentrated export base across 93 partners in 2024.

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Export and import partner HHI (0–1) and partner counts of Mongolia per year.
Year	Export HHI	Import HHI	Export partners	Import partners
1995	0.253	0.119	40	50
1996	0.237	0.168	52	66
1997	0.234	0.136	70	71
1998	0.261	0.113	71	67
1999	0.323	0.143	67	62
2000	0.296	0.151	72	70
2001	0.270	0.162	79	68
2002	0.289	0.178	87	71
2003	0.254	0.152	93	88
2004	0.282	0.160	99	91
2005	0.251	0.175	99	99
2006	0.436	0.200	105	99
2007	0.496	0.197	113	99
2008	0.562	0.227	88	84
2009	0.648	0.277	96	84
2010	0.684	0.260	94	85
2011	0.720	0.252	96	80
2012	0.780	0.223	91	85
2013	0.628	0.156	107	133
2014	0.652	0.199	109	135
2015	0.571	0.206	113	144
2016	0.487	0.171	115	150
2017	0.575	0.190	110	157
2018	0.688	0.199	115	154
2019	0.652	0.196	116	148
2020	0.496	0.201	114	137
2021	0.568	0.218	114	156
2022	0.615	0.221	117	156
2023	0.841	0.350	101	84
2024	0.853	0.318	93	82

30 rows

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