Foreign trade turnover shows increase of USD 2.3 billion in 2018Economy
Ulaanbaatar /MONTSAME/ In 2018, Mongolia traded with 156 countries from all over the world and total trade turnover reached USD 12.9 billion, where exports was USD 7.0 billion and imports was USD 5.9 billion. In December 2018, exports and imports reached to USD 531.0 million and USD 503.5 million, respectively. Compared to the same period of previous month, exports decreased by USD 4.9 million (0.9percent) and imports increased by USD 7.5 million (1.5percent).
Total foreign trade turnover increased by USD 2.3 billion (22.3percent), of which exports by USD 811.2 million (13.1percent) and imports by USD 1.5 (35.5percent) billion compared to the previous year.
In 2018, foreign trade surplus reached USD 1.1 billion, decreased by USD 726.5 million (39.0percent) from USD 1.8 billion in the same period of 2017. While, there was foreign trade surplus of USD 27.5 million in December 2018, which is decreased by USD 53.9 million (66.2percent) compared to previous year.
The increase of USD 811.2 million in exports was due to an increase of USD 1.1 billion in mineral products
exports, and an increase of USD 74.3 million in textile articles exports.
The increase of USD 1.5 billion in imports was mainly due to USD 339.9 million increase in mineral products imports, USD 148.8 million increase in diesel imports, USD 363.2 million in increase machinery, equipment and electric appliances, USD 274.1 million increase in transport vehicles and their spare parts and USD 206.5 million increase in base metals and articles thereof.
Source: National Statistics Office