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Recently, the Mongolian economy has grown at a fast pace due to an increase in mining and Mongolia attained a GDP growth rate of 11.7% in 2013. [17] However, because much of this growth is export-based, Mongolia is suffering from the global slowdown in mining caused by decreased growth in China.
Exports of goods and services (US$ million) by country [1] Country Exports Year Top goods export (2021) [2] [needs update] China: 3,511,248 2023 Broadcasting equipment United States: 3,051,824 2023 Petroleum Germany: 2,104,251 2023 Cars United Kingdom: 1,074,781 2023 Gold France: 1,051,679 2023 Packaged medications Netherlands: 949,983 2023 ...
Global exports (in millions USD) Rank Country Exports (in millions USD) Manufacturing services on physical inputs owned by others 123,721 1 China: 20,102 2 Germany: 15,282 3 France: 13,856 4 Netherlands: 10,476 5 Italy: 6,979 Maintenance and repair services n.i.e. 90,240 1 United States: 14,468 2 France: 12,712 3 Germany: 12,075 4 China: 8,434 5
The U.S. has a new President who has campaigned on raising tariffs on many nations, including a possible 60% tariff on Chinese exports. Mongolia’s own economy is very much dependent on China, so ...
World map by trade as a share of GDP. [1] This is the list of countries by trade-to-GDP ratio, i.e. the sum of exports and imports of goods and services, divided by gross domestic product, expressed as a percentage, based on the data published by World Bank.
Mongolia is economically dependent on these countries: China is Mongolia's largest export partner at a 78% share, far above the other top countries (Switzerland at 15%; Singapore 3%). Mongolia receives 36% of imports from China and 29% from Russia. [103]
For most economies worldwide, their leading export and import trading partners in terms of value are typically the United States, European Union (EU) or China. Emerging markets such as Russia, Brazil, India, South Africa, Saudi Arabia, The UAE, Turkey, and Iran are becoming increasingly important as major markets or source countries in various regions.
U.S. and Mongolian officials this week discussed "creative ways" to ensure the landlocked country, dependent on goodwill from its neighbors China and Russia, could get critical minerals onto the ...