Foreign trade turnover decreased by 16.7 percentEconomy
Ulaanbaatar /MONTSAME/ As of the first seven months of this year, total foreign trade turnover reached USD 6.7 billion, showing a decrease of USD 1.4 billion or 16.7 percent drop compared to the same period of last year. Export exceeded import by USD 846.6 million and foreign trade balance has shown positive result, the Customs General Administration reported.
Goods and raw materials worth USD 3.8 billion have been exported in the first seven month, which is a decreased performance by 17.1 percent compared to the same period of the previous year.
Exports of mineral products made up of 65.1 percent of the total export, exports of pearl, precious and semi-precious stones, precious metal and jewelry 28.5 percent, exports of raw and processed hides, skins, fur and articles 0.2 percent and exports of textiles and textile articles 3.8 percent, respectively.
Crude oil, iron ore, copper concentrate and zinc concentrate accounted for 100 percent and stone coal accounted for 96.3 percent of total export to China, flour spar accounted for 75.5 percent of export to China, 24.1 percent of export to Russia, combed wool accounted for 81.5 percent of total export to Italy, washed goat cashmere accounted for 100 percent of total export to China, semi-processed gold accounted for 4.9 percent of total export to Great Britain, 5.8 percent of export to Singapore and 89.3 percent of export to Switzerland separately. The aforementioned export goods made up of 92.8 percent of the total exports.
Mongolia has exported its goods to 60 countries and China has taken up 68 percent of it, Switzerland 25 percent, Great Britain 2 percent and Singapore 2 percent respectively.