In January, exports totaled USD 459 million, decreasing by 24.4 percent compared to the same period of the previous year. According to the Customs General Authority (CGA), imports surpassed exports for the first time since September 2014 with a loss of USD 14.3 million. The sharp decline in crude oil sales was one of the key drivers. Copper and ore concentrate sales declined by nearly 30 percent. Excluding raw coal, most of Mongolia’s exports have declined. However, export revenue was up 20 percent year­-on-­year. Despite the restriction on movement in line with the new types of coronaviruses, mineral exports from major ports are continuing to operate normally, the CGA said.

Published Date:2020-02-11