Mongolia's foreign trade turnover hits USD2.6bn
Baku, February 25, AZERTAC
In January 2025, Mongolia traded with 105 countries, with foreign trade turnover reaching USD 2.6 billion, Montsame reported.
Of this amount, exports totaled USD 1.7 billion and imports USD 843.0 million, resulting in a trade surplus of USD 906.5 million, according to the National Statistics Office of Mongolia.
Total trade turnover increased by 30.7 percent, or USD 608.9 million, compared to the same period last year. Exports rose by 71.6 percent, or USD 730.2 million, while the trade surplus increased 16.5 times, or by USD 851.5 million. Imports, however, declined by 12.6 percent, or USD 121.3 million.
The growth in exports was mainly driven by increases in copper ore and concentrates by USD 462.3 million, coal by USD 167.6 million, unprocessed or semi-processed gold by USD 95.5 million, and canned meat products by USD 8.3 million. Meanwhile, exports of fluorspar ore and concentrates decreased by USD 15 million, zinc ore and concentrates by USD 6 million, crude oil by USD 5.6 million, and molybdenum ore and concentrates by USD 2.5 million.
The decline in imports compared to the same period last year was largely due to decreases in passenger cars by USD 73.1 million, trucks by USD 36.1 million, vehicle spare parts and components by USD 17.6 million, diesel fuel by USD 13 million, and bulldozers and excavators by USD 7.5 million. Conversely, imports of gasoline increased by USD 26.8 million, nitrogen fertilizers by USD 5.8 million, and packaged medicines by USD 3.5 million.
Furthermore, compared to the previous month, exports decreased by 11 percent, or USD 215.2 million, while imports declined by 23.8 percent, or USD 263.9 million. Mineral products, precious stones, metal jewelry, and base metals accounted for 96.7 percent of total exports. On the import side, mineral products, machinery and mechanical equipment, electrical goods and transport vehicles and their parts, as well as base metals and articles thereof, comprised 72 percent of total imports.
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