Economy

Mongolia’s external trade turnover rises 2017-10-12 14:02

In the first 9 months of 2017, Mongolia traded with 150 countries from all over the world and total trade turnover reached USD 7.7 billion, of which USD 4.6 billion were made up by exports and USD 3.1 billion by imports.
 
Total foreign trade turnover increased by USD 1.9 (33.4%) billion, of which, exports increased by USD 1.3 (37.5%) billion and imports by USD 682.8 (27.9%) million compared to the same period of the previous year.
 
In the first 9 months of 2017, foreign trade surplus reached USD 1.5 billion, which is an increase by USD 567.7 (64.2%) million from USD 884.4 million in the same period of 2016.
 
The export rise of USD 1.3 billion was due to an increase of USD 1.2 billion in mineral products export, particularly an increase of USD 1.2 billion in coal export. The import increase of USD 682.8 million was mainly due to USD 235.0 million increase in mineral products import, specially USD 161.2 million increase in diesel import and USD 44.8 million increase in petrol import, USD 136.8 million rise in machinery, equipment, electric appliances, USD 135.0 million increase in transport vehicles, their spare parts and USD 82.8 million in base metals and articles thereof.
 
Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals jewellery make up to 94.8 percent of total export. On the other hand, 67.0 percent of imports are mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts, and food products.

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