Exports of mineral products, textiles and precious metals make up 95.7 percent of total exportEconomy
the first 8 months of 2019, Mongolia traded with 143 countries from all over
the world and total trade turnover reached USD 9.5 billion, of which USD 5.4
billion were exports and USD 4.1 billion were imports. In August 2019, exports
and imports reached to USD 815.6 million and USD 584.0 million, respectively.
Compared to the previous month, exports increased by USD 183.1 million and
imports decreased by USD 29.4 million.
In the same period of 2019, total foreign trade turnover increased by USD 1.0 (11.9%) billion, of which exports increased by USD 715.8 million (15.3%) and imports increased by USD 289.2 million (7.6%) compared to the same period of previous year.
In the first 8 months of 2019, foreign trade surplus reached USD 1.3 billion, which increased by USD 426.6 million from USD 869.2 million in the same period of 2018. In August 2019, foreign trade surplus reached to USD 231.6 million. Compared to the previous month, foreign trade surplus increased by USD 212.5 million. The 715.8 million increase in exports from the same period of previous year was due to the increases of USD 294.8 million in bituminous coal and USD 199.8 million in gold, unwrought or in semi-manufactured forms exports.
The USD 289.2 million increase in imports from the same period of previous year was mainly due to USD 57.2 million increase in mineral products imports, especially, USD 99.0 million increase in diesel imports and USD 176.0 million increase in transport vehicles and its spare parts.
Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals jewelry make up to 95.7 percent of total export. On the other hand, 68.6 percent of imports are mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.
Source: National Statistics Office of Mongolia