Mongolia-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $172.39M total volume •Mongolia surplus: $3.02M
Mongolia → Italy
$87.70M
Exports (2023)
Italy → Mongolia
$84.68M
Imports (2023)
Trade Balance
$3.02M
Surplus for Mongolia
Total Trade
$172.39M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Mongolia and Italy. Green line shows exports from Mongolia, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Mongolia-Italy commercial relationship and competitive positioning in global markets.
Mongolia → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Mongolia's export portfolio to Italy demonstrates strategic specialization, with hair: fine animal hair, not carded or combed, of kashmir (cashmere) goats representing a key competitive advantage in this bilateral market.
Italy → Mongolia Imports
Import Dependency Profile
📦 Import Strategy Analysis
Mongolia's import pattern from Italy reveals strategic sourcingin sculptures and statuary: original, in any material, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Mongolia demonstrates competitive strength in exportinghair: fine animal hair, not carded or combed, of kashmir (cashmere) goats to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $172.39M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Mongolia-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $172.39 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Mongolia maintains a surplus of $3.02 million
- Export Focus: Mongolia's primary exports include hair: fine animal hair, not carded or combed, of kashmir (cashmere) goats, base metals, silver or gold, clad with platinum: not further worked than semi-manufactured, animal products: guts, bladders and stomachs of animals (other than fish), whole and pieces thereof, fresh, chilled, frozen, salted, in brine, dried or smoked
- Import Dependencies: Key imports from Italy include sculptures and statuary: original, in any material, base metals, silver or gold, clad with platinum: not further worked than semi-manufactured, machines and mechanical appliances: having individual functions, n.e.c. or included in this chapter
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $172.39M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Mongolia leveraging its comparative advantages in hair: fine animal hair, not carded or combed, of kashmir (cashmere) goats.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Mongolia's specialization in hair: fine animal hair, not carded or combed, of kashmir (cashmere) goatscomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in sculptures and statuary: original, in any material.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $172.39M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $172.39M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $172.39 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in hair: fine animal hair, not carded or combed, of kashmir (cashmere) goats and sculptures and statuary: original, in any material demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Mongolia's trade surplus of $3.02 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Mongolia and Italy represents a total trade volume of $172.39 million in 2023. This partnership demonstrates a favorable trade balance for Mongolia, with exports exceeding importsby $3.02 million.
Export Strengths
Mongolia's exports to Italy total $87.70 million, with competitive advantages in hair: fine animal hair, not carded or combed, of kashmir (cashmere) goats, representing $66.53M or75.9% of bilateral exports.
Import Dependencies
Imports from Italy amount to $84.68 million, highlighting economic interdependence in sculptures and statuary: original, in any material, with Sculptures and statuary: original, in any material comprising11.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Mongolia's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Mongolia and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023