Mongolia - Merchandise imports from low- and middle-income economies within region (% of total merchandise imports)

Merchandise imports from low- and middle-income economies within region (% of total merchandise imports) in Mongolia was 36.36 as of 2020. Its highest value over the past 39 years was 39.37 in 2010, while its lowest value was 5.40 in 1985.

Definition: Merchandise imports from low- and middle-income economies within region are the sum of merchandise imports by the reporting economy from other low- and middle-income economies in the same World Bank region according to the World Bank classification of economies. Data are as a percentage of total merchandise imports by the economy. Data are computed only if at least half of the economies in the partner country group had non-missing data. No figures are shown for high-income economies, because they are a separate category in the World Bank classification of economies.

Source: World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.

See also:

Year Value
1981 9.89
1982 6.65
1983 8.00
1984 5.74
1985 5.40
1986 11.98
1987 20.84
1988 15.58
1989 17.70
1990 21.61
1991 17.92
1992 13.84
1993 17.56
1994 9.25
1995 11.23
1996 15.57
1997 14.45
1998 12.78
1999 14.63
2000 19.11
2001 22.67
2002 23.40
2003 22.91
2004 25.29
2005 28.60
2006 26.83
2007 29.47
2008 29.57
2009 39.12
2010 39.37
2011 38.89
2012 31.52
2013 30.69
2014 35.84
2015 38.77
2016 34.89
2017 35.63
2018 36.25
2019 36.07
2020 36.36

Development Relevance: The relative importance of intraregional trade is higher for both landlocked countries and small countries with close trade links to the largest regional economy. For most low- and middle-income economies - especially smaller ones - there is a "geographic bias" favoring intraregional trade. Despite the broad trend toward globalization and the reduction of trade barriers, the relative share of intraregional trade increased for most economies between 1999 and 2010. This is due partly to trade-related advantages, such as proximity, lower transport costs, increased knowledge from repeated interaction, and cultural and historical affinity. The direction of trade is also influenced by preferential trade agreements that a country has made with other economies. Though formal agreements on trade liberalization do not automatically increase trade, they nevertheless affect the direction of trade between the participating economies.

Limitations and Exceptions: Data on exports and imports are from the International Monetary Fund's (IMF) Direction of Trade database and should be broadly consistent with data from other sources, such as the United Nations Statistics Division's Commodity Trade (Comtrade) database. All high-income economies and major low- and middle-income economies report trade data to the IMF on a timely basis, covering about 85 percent of trade for recent years. Trade data for less timely reporters and for countries that do not report are estimated using reports of trading partner countries. Therefore, data on trade between developing and high-income economies should be generally complete. But trade flows between many low- and middle-income economies - particularly those in Sub-Saharan Africa - are not well recorded, and the value of trade among low- and middle-income economies may be understated.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Imports