Ulaanbaatar
Mongolia Trades with 158 Countries
Economy
Ulaanbaatar, December 30, 2024 /MONTSAME/. In the first 11 months of 2024, Mongolia traded with 158 countries from all over the world, and the total trade turnover reached USD 25.2 billion, of which USD 14.6 billion were exports and USD 10.6 billion were imports, and the foreign trade balance was in a surplus of USD 4.0 billion.
Specifically, the total foreign trade turnover increased by USD 3.0 billion (13.4 percent), where exports increased by USD 781.7 million (5.7 percent) and imports increased by USD 2.2 billion (26.2 percent), and foreign trade balance decreased by USD 1.4 billion (25.9 percent) compared to the same period of the previous year.
In the first 11 months of 2024, USD 781.7 million increase in exports from the same period of the previous year was mainly due to a USD 528.1 million increase in copper ores and concentrates, USD 181.0 million increase in gold, USD 153.3 million increase in iron ores and concentrates. However, canned meat products decreased by USD 46.2 million, and zinc ores and concentrates exports decreased by USD 44.2 million.
The USD 2.2 billion increase in imports from the same period of the previous year was mainly due to USD 382.3 million increase in cars, USD 297.6 million increase in trucks, USD 196.2 million increase in diesel, USD 139.3 million increase in bulldozers, graders, excavators, USD 91.5 million increase in petrol, and USD 75.3 million increase in telephone telegraph communication apparatus.
In November 2024, exports decreased by USD 10.5 million (0.7 percent), and imports increased by USD 18.5 million (1.9 percent) compared to October 2024.
