Total Foreign Trade Turnover Increased by USD 5.2 BillionEconomy
Ulaanbaatar, January 17 /MONTSAME/. In 2022, Mongolia traded with 160 countries from all over the world, and the total trade turnover reached USD 21.2 billion, of which exports were USD 12.5 billion and imports were USD 8.7 billion.
The total foreign trade turnover increased by USD 5.2 (32.1%) billion, where exports increased by USD 3.3 (35.7%) billion and imports increased by USD 1.9 (27.2%) billion compared to the same period of the previous year. In December 2022, exports increased by USD 259.7 (22.9%) million and imports increased by USD 107.4 (14.8%) million compared to the previous month.
The foreign trade balance was in surplus of USD 3.8 billion in 2022 and increased by USD 1.4 (60.1%) billion compared to the same period of the previous year. Trade balance was in surplus of USD 562.6 million, increased by USD152.4 (37.1%) million from previous month. Trade with China reached USD 13.7 billion in 2022, which is accounting 64.3% of the total trade turnover.
Bituminous coal and copper concentrates accounted for 56.8% and 25.9% of total exports to China, respectively, gold accounted for 99.7% of total export to Switzerland.
The average border price of gold increased by USD 3.3 thousand dollars per kilogram, the average border price copper concentrates increased by USD 119.3 dollars per ton and the average border price of coal increased by USD 8.0 dollars per ton compared to the previous month. However, the average border price of gold unwrought or in semi-manufactured forms decreased by USD 11.4 dollars per barrel.
The bituminous coal export’s volume reached 4.6 million ton, increased by 550.2 thousand tons from the previous month however, value reached USD 756.3 million, and increased by USD 128.5 million from the previous month.
In 2022, 60.6% of the total imports from Russia were petroleum products, 67.3% of the total imports from Japan were cars and 4.3% of the total imports from China were electricity, 10.2% were trucks. The USD 1.9 billion increase in imports from the same period of the previous year was mainly due to USD 369.6 million increase in diesel, USD 170.2 million increase in petrol, USD 191.1 million increase in cars.
Exports of mineral products, natural or cultured stones, precious metal, jewelry and textile articles products made up 97.0 percent of the total export. On the other hand, 74.9 percent of the total imports was mineral products, machinery, equipment and electric appliances, base metals and articles thereof, transport vehicle and its spare parts and food products.
Source: National Statistical Office