Ulaanbaatar
Export Increases by 8.2 Percent
Economy
Ulaanbaatar,
March 31, 2023 /MONTSAME/. According
to the National Statistics Office of Mongolia, in the first two months of 2023, Mongolia
traded with 118 countries from all over the world, and the total trade turnover
reached USD 3.4 billion, of which USD 2.2 billion were exports and USD 1.2
billion were imports.
The total foreign
trade turnover increased by USD 1.5 billion (55.2 percent), where imports
increased by USD 160.5 million (15.5 percent) and exports increased by USD 1.1
billion (90.1 percent) compared to the same period of the previous year.
In February 2023,
exports increased by USD 88.1 million (8.2 percent) and imports decreased by
USD 177.8 million (25.8 percent) compared to the previous month.
The foreign trade balance was in surplus of USD 1 billion, an
increase of 7.3 times compared to the same period of the previous year. In
February 2023, the trade balance surplus increased by USD 265.9 million from
previous month. Trade with China reached USD 2.5 billion in the first two
months, which is standing for 71.4 percent of the total trade turnover.
Copper concentrates and bituminous coal accounted for 18.3
percent and 61.1 percent of total exports to China, respectively, gold
accounted for 99.9 percent of total export to Switzerland.
Exports
increased by USD 1.1 billion in the first two months
of 2023, mainly due to the increase of exports of coal
by USD 955 million, zinc ore and concentrate by USD 4.2 million, iron ore concentrate by USD 39.5 million and
fluorspar ore and concentrate by USD 22.4 million.
During the same period, 35.5 percent of the total imports from
China, 28.1 percent from Russia, 8.7 percent from Japan, 4.3 percent from South
Korea, 3.4 percent from the USA, and 2.3 percent from Germany, collectively
constitute 82.4 percent of the total import.
Exports of mineral products,
natural or cultured stones, and precious metals accounted for 93.4 percent of
the total export. However, 77 percent of the total imports were mineral
products, machinery, equipment and electric appliances, base metals and
articles thereof, transport vehicles and spare parts, and food products.
