Total foreign trade turnover increases by 17.8 percentEconomy
Ulaanbaatar/MONTSAME/. In January 2021, Mongolia traded with
108 countries from all over the world, and the total trade turnover reached USD
1.1 billion, of which USD 639.9 million were exports and USD 458.8 million were
imports. The total foreign trade turnover increased by USD 166.4 million
(17.8%). Exports increased by USD 180.9 million (39.4%) and imports dropped by USD
14.5 million (3.1%) compared to the same period of the previous year. Compared
to the previous month, exports decreased by USD81.3 million (11.3%) and imports
increased by USD51.5 million (12.6%).
The foreign trade balance was in surplus of USD 181.1 million in January 2021, while it was in deficit of USD 14.3 million in January 2020, increased by USD 195.3 million compared to the same period of the previous year.
Trade with China reached USD 750.5 billion in January 2021, which is 68.3% of the total trade turnover. Bituminous coal and copper concentrates accounted for 34.3% and 32.8% of total exports to China, bituminous coal accounted for 99.0% of total export to Singapore, while fluorspar accounted for 92.3% of total export to Russia.
The USD 180.9 million increase in exports from the previous year was resulted from a USD80.2 million increase in copper concentrates exports and a USD17.8 million increase in coal exports.
In January of 2021, 34.6% of the total imports were from China, 29.1% -- from Russia, 8.8% -- from Japan, 3.9% -- from the Republic of Korea and 3.7% -- from Germany, which accounts for 80.1% of the total imports.
In January of 2021, 56.4% of the total imports from Russia were petroleum products, 73.0% of the total imports from Japan were cars, and 6.8% of the total imports from China were electricity, 8.2% were trucks and 85.0% were imports of other products. The USD 14.5 million decrease in imports from the previous year was mainly due to USD 15.2 million decrease in petrol imports, and USD19.7 million decrease in diesel fuel imports.
Exports of mineral products, food products, and vegetable origin products made up 92.6 percent of the total export. On the other hand, 64.1 percent of the total imports was mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.
Source: National Statistics Office