Trade surplus reached USD 1.5 billionEconomy
Ulaanbaatar /MONTSAME/ For the first time in its history foreign trade balance of Mongolia has reached a surplus of USD1.5 billion. Even though the external trade balance has experienced a trade surplus since 2014, due to sharp import fall, the surplus has never reached to a billion.
The National statistical data reports that foreign trade balance had surplus in 1997, 2006, 2014 and 2015 and the trade was in deficit of USD2 billion by the end of 2013.
Last year, the total exports exceeded its imports by USD 1.55 billion, mainly influenced by growth of exports of coal and gems and precious metals. Moreover, growth in mineral exports increased the total export by 3.1 units.