Mongolia traded with 155 countries in the first eight months of this year, with total foreign trade turnover reaching USD 22.8 billion.

Of this, exports totaled USD 14.4 billion and imports USD 8.4 billion, resulting in a trade surplus of USD 6 billion, according to the National Statistics Office.

Trade turnover increased by 36.8% (USD 6.1 billion), exports by 57.2% (USD 5.2 billion), and imports by 11.9% (USD 891.2 million) compared with the same period last year, while the trade surplus grew 3.6-fold, or by USD 4.3 billion.

The USD 5.2 billion increase in exports during the first eight months of this year, compared with the same period last year, was driven by growth in exports of copper ore and concentrate (USD 2.8 billion), coal (USD 1.9 billion), unprocessed and semi-processed gold (USD 255.6 million), combed cashmere (USD 97.1 million), tungsten ore and concentrate (USD 53.9 million), and lead ore and concentrate (USD 40.7 million). In contrast, exports of refined copper and copper alloys fell by USD 46.7 million, molybdenum ore and concentrate by USD 22.8 million, horse meat by USD 8.6 million, and sheep and goat meat by USD 6.2 million.

The USD 891.2 million rise in imports was driven by increases in diesel fuel (USD 407.6 million), gasoline (USD 73.4 million), bulldozers and excavators (USD 56.2 million), new tires (USD 48.6 million), and ferrous metal structures and parts (USD 36.6 million). In contrast, imports of passenger cars fell by USD 108.6 million, trucks by USD 47.1 million, and smartphones by USD 16 million.

Mineral products, precious stones, metal jewelry, and textile goods accounted for 97.6% of total exports, while mineral products, machinery and mechanical equipment, electrical appliances, vehicles and their parts, base metals, and articles thereof made up 70.9% of imports. Compared with the same period last year, the price of gold rose by USD 1,438 per ounce, copper ore and concentrate by USD 1,223.5 per tonne, and coal by USD 3.2 per tonne, while the price of iron ore and concentrate fell by USD 1.2 per tonne.

Coal accounted for 40.7% and copper ore and concentrate for 47.1% of goods exported to China, while unprocessed and semi-processed gold made up 99.6% of goods exported to Switzerland.

By country, China accounted for 41% of imports, Russia 27.5%, Japan 9.1%, South Korea 3.9%, the United States 3.1%, and Germany 2.2%, together making up 86.7% of total imports. Petroleum products made up 75.4% of goods imported from Russia, passenger cars accounted for 76.8% of imports from Japan, and trucks made up 5.7% of imports from China. Gasoline imports reached 619.4 thousand tonnes in the first eight months of the year, up 12.1% from the same period last year, while diesel fuel imports reached 1.3 million tonnes, up 5.7%.

Published Date:2026-09-13