Imports increase by USD53.5 mln against previous monthEconomy
Ulaanbaatar/MONTSAME/. In the first 11 months of 2019, Mongolia traded with 150 countries from all over the world and total trade turnover reached USD 12.6 billion, of which USD 7.1 billion were exports and USD 5.6 billion were imports. In November 2019, exports and imports reached to USD 526.9 million and USD 519.3 million, respectively. Compared to the previous month, exports decreased by USD 55.7 million and imports increased by USD 53.5 million.
Total foreign trade turnover increased by USD 787.1 (6.6%) million, of which exports increased by USD 574.8 million (8.9%) and imports increased by USD 212.3 million (4.0%) compared to the same period of previous year. In the first 11 months of 2019, foreign trade surplus reached USD 1.5 billion, which increased by USD 362.6 million from USD 1.1 billion in the same period of 2018. In November 2019, foreign trade surplus reached to USD 7.6 million. Compared to the previous month, foreign trade surplus decreased by USD 109.2 million.
The 574.8 million increase in exports from the same period of previous year was due to the increases of USD 326.8 million in bituminous coal and USD 199.8 million in gold, unwrought or in semi-manufactured forms exports. The USD 212.3 million increase in imports from the same period of previous year was mainly due to USD 35.9 million increase in mineral products imports, especially, USD 97.5 million increase in diesel imports and USD 208.0 million increase in transport vehicles and its spare parts.
Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals jewelry made up 95.6 percent of total export. On the other hand, 68.5 percent of imports was mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.
Source: National Statistics Office