Foreign trade turnover increases by USD 56 millionEconomy
/MONTSAME/ In the first 10 months of 2018, Mongolia traded with 153 countries
from all over the world and total trade turnover reached USD 10.8 billion,
where exports was USD 5.9 billion and imports was USD 4.9 billion. In October
2018, exports and imports reached to USD 662.0 million and USD 524.5 million,
respectively. Compared to the same period of previous year, export increased by
USD 56.0 million (9.2 percent).
Total foreign trade turnover increased by USD 2.1 billion (24.4 percent), of which exports by USD 755.9 million (14.6 percent) and imports by USD 1.4 (39.0 percent) billion compared to the same period of the previous year. In the first 10 months of 2018, foreign trade surplus reached USD 1.1 billion, decreased by USD 610.8 million (36.4 percent) from USD 1.7 billion in the same period of 2017.
While, there was foreign trade surplus of USD 137.5 million in October 2018, which is USD 84.4 million (38.0 percent) less compared to same period of previous year. The increase of USD 755.9 million in exports was due to an increase of USD 1.0 billion in mineral products exports, and an increase of USD 75.0 million in textile articles exports.
Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals and jewellery make up to 95.3 percent of total export. On the other hand, 66.8 percent of imports are made up from mineral products, machinery, equipment, electric appliances, transport vehicles and their spare parts and food products.
Source: National Statistics Office