Ulaanbaatar/MONTSAME/. In the first 2 months of 2022, Mongolia traded with 123 countries from all over the world, and the total trade turnover reached USD 2.2 billion, of which USD 1.2 billion were exports and USD 1.0 billion were imports. 

The total foreign trade turnover decreased by USD 38.9 million (1.7 percent). Exports decreased by USD 154.3 million (11.6 percent), while imports increased by USD 115.4 million (12.5 percent) compared to the same period of the previous year. 

In February 2022, exports increased by USD 101.0 million (18.7 percent) while imports dropped by USD 75.4 million (13.5 percent) compared to the previous month.

The foreign trade balance was in surplus of USD 142.5 million in the first 2 months of 2022, decreased by USD 269.7 million compared to the same period of the previous year.  In February 2022, trade balance surplus increased by USD 176.3 million from previous month.

Trade with China reached USD 1.2 billion in the first 2 months of 2022, which is accounting 51.9 percent of the total trade turnover.

Bituminous coal and copper concentrates accounted for 35.4 percent and 51.2 percent of total exports to China, respectively, unwrought gold accounted for 99.8 percent of total export to Switzerland.  In the first 2 months of 2022, USD 154.3 million decrease in exports from the same period of the previous year was resulted from USD 122.4 million decrease in coal exports.

Exports border price of copper concentrates has been decreased in the last 2 consecutive months and crude petroleum was not been exported.

In the first 2 months of 2022, USD 101.0 million increase in exports from the previous month was mainly due to USD 90.3 million increase in copper concentrates exports.

In the first 2 months of 2022, 34.6 percent of the total imports were from Russia, 27.8 percent -- from China, 8.6 percent -- from Japan, 4.9 percent -- from the Republic of Korea, 2.7 percent --  from USA and 2.6 percent -- from Germany, which are accounting for 81.3 percent of the total imports.

58.7 percent of the total imports from Russia were petroleum products, 6.6 percent -- rebar iron, 2.3 percent -- electrical energy and 2.1 percent -- chemical fertilizers, 73.3 percent of the total imports from Japan were cars, and 8.4 percent of the total imports from China were electricity, 4.6 percent were trucks and 87.0 percent were imports of other products.

Exports of mineral products, natural or cultured stones, precious metal, jewelry and textile articles products made up 94.0 percent of the total export. On the other hand, 64.5 percent of the total imports were mineral products, machinery, equipment and electric appliances, transport vehicle and its spare parts and food products.