Ulaanbaatar
Mongolian Foreign Trade Turnover Reached USD 20.4 Billion as of September
Economy
Ulaanbaatar, October 10, 2024 /MONTSAME/. The Mongolian Customs General Administration has compiled the foreign trade performance for the first nine months of 2024 based on 556,000 export and 306,000 import declarations, along with other sources.
As of the first nine months of 2024, the total foreign trade turnover reached USD 20.4 billion, a 13 percent increase of USD 2.3 billion compared to the same period last year. The export value exceeded the import value by USD 3.2 billion, resulting in a positive trade balance.
Mongolia exported goods and raw materials worth USD 11.8 billion, a 4.3 percent increase compared to the same period last year. Mineral products accounted for USD 10.3 billion or 87.4 percent of total exports. Pearls, precious and semi-precious stones, precious metals, jewelry, and coins made up USD 679.2 million or 5.8 percent, while textiles and textile products accounted for USD 356.4 million or 3 percent. Together, these categories represented 96.2 percent of total exports.
According to statistical data, during the first nine months of this year, Mongolia exported 27,300 tons of beef and 4,700 tons of goat meat, a decrease of 3.3 percent to 7.2 percent. However, coal exports increased by 1.3 times and iron ore by 28.8 percent compared to the same period last year.
In the first nine months of 2024, 100 percent of the lead ore and concentrate, iron ore, zinc concentrate, crude oil, and bituminous coal exported went to China. Additionally, 85.8 percent of processed cattle and horse hides were exported to China, 76.8 percent of combed cashmere to Italy, and 99 percent of washed goat cashmere to China.
