Mongolia’s export decreases by 24.4 percent, import by 6.1 percentEconomy
Ulaanbaatar /MONTSAME/ On February 7, the Customs General Administration gave briefing on foreign trade preliminary performance of January, 2020 and measures being taken in customs checkpoints for prevention of coronavirus infection.
Head of Statistic Department of the Customs General Administration B.Tseren said that the volume of export and import has shown decrease as of January, 2020. Mongolia made export worth USD 459 million in January, showing a decrease of 24.4 percent from the same period of previous year. While the volume of import is USD 473 million, which means decrease by 6.1 percent if compared with the same period of the last year.
Since the People’s Republic of China takes up around 95 percent of export and 26 percent of total import of Mongolia, the spread of coronavirus is greatly influencing to decline the volume of export and import.
In addition, import of face mask and disinfecting substance has been relatively increased as of last two months. More specifically, Mongolia imported 68.700 pieces of face mask in January this year and 1.9 million face masks in February, which was a total of 500 thousand in January 2019. Moreover, disinfecting and cleaning substances have been imported two times more to compare with the same period of the last year.