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Mongolia's Exports Surpass USD 16 Billion in First Nine Months www.montsame.mn
Mongolia traded with 161 countries in the first nine months of this year, reaching a total foreign trade turnover of USD 25.9 billion.
According to the National Statistics Office, exports reached USD 16.2 billion, while imports stood at USD 9.7 billion, resulting in a trade surplus of USD 6.5 billion.
Compared to the same period last year, total trade turnover increased by 34.6% or USD 6.7 billion, exports rose by 51.2% or USD 5.5 billion, imports expanded by 13.8% or USD 1.2 billion, and the trade surplus grew threefold, adding USD 4.3 billion.
The USD 5.5 billion surge in exports over the nine-month period was driven primarily by increased exports of copper ore and concentrate (up by USD 3.1 billion), coal (up by USD 2 billion), combed cashmere (up by USD 124.2 million), unwrought and semi-manufactured gold (up by USD 104.2 million), tungsten ore and concentrate (up by USD 61.8 million), and fluorspar ore and concentrate (up by USD 58 million). Conversely, exports of refined copper and copper alloys fell by USD 49.1 million, molybdenum ore and concentrate dropped by USD 29.8 million, sheep and goat meat decreased by USD 24.8 million, and horse meat declined by USD 9.4 million.
On the import side, the USD 1.2 billion year-on-year increase was mainly influenced by higher imports of diesel fuel (up by USD 549 million), auto gasoline (up by USD 83.2 million), heavy machinery such as bulldozers and excavators (up by USD 67.2 million), new tires (up by USD 56.3 million), and iron/steel structures and parts (up by USD 43.7 million). Meanwhile, imports of passenger cars decreased by USD 74.4 million, trucks fell by USD 46.4 million, and smartphones dropped by USD 14.3 million.
In September alone, exports declined by 17.6% or USD 384.6 million compared to the previous month, while imports grew by 12.4% or USD 149.8 million.
Mineral products, precious stones, jewelry, and textiles accounted for 97.5% of total exports. Mineral products, machinery and mechanical appliances, electrical equipment, vehicles and their parts, and base metals and articles thereof constituted 71.4% of total imports.
During the first nine months, average border prices for key commodities saw mixed trends compared to the same period last year:
Gold: Increased by USD 1,373.9 per ounce
Copper Ore & Concentrate: Increased by USD 1,204.5 per tonne
Coal: Increased by USD 5.1 per tonne
Iron Ore & Concentrate: Decreased by USD 1.6 per tonne
In terms of trade destinations, coal made up 40.4%, and copper ore and concentrate accounted for 46.9% of total exports to China. Unwrought and semi-manufactured gold comprised 99.6% of all goods exported to Switzerland.
Coal exports through the Gashuunsukhait border port accounted for 41.1% of Mongolia's total coal exports, representing a 4.4 percentage point decrease year-on-year. Regarding imports, petroleum products constituted 76.5% of goods imported from Russia, passenger cars made up 76.4% of imports from Japan, and freight trucks accounted for 6% of imports from China. Imports of auto gasoline reached 684,900 tonnes (up 9.6% year-on-year), while diesel fuel imports reached 1.5 million tonnes (up 7.5% year-on-year).
Published Date:2026-10-12
