Mongolia traded with a total of 163 countries in 2024, with the total foreign trade turnover reaching 27.4 billion USD. Of this, exports amounted to 15.8 billion USD and imports to 11.6 billion USD, resulting in a trade surplus of 4.2 billion USD, according to the National Bureau of Statistics.
The total trade turnover increased by 3.0 billion USD (12.1%) compared to the previous year, with exports rising by 596.5 million USD (3.9%) and imports increasing by 2.4 billion USD (25.5%). The trade balance decreased by 1.8 billion USD (29.7%).
Exports grew by 596.5 million USD in 2024 compared to the previous year, primarily due to increases in copper ore and concentrate (693.4 million USD), gold (161.4 million USD), and iron ore and concentrate (152.8 million USD). However, coal exports decreased by 200.5 million USD and canned meat products by 46.0 million USD.
Imports rose by 2.4 billion USD from the previous year, mainly due to increases in passenger cars (395.6 million USD), trucks (288.6 million USD), diesel fuel (186.0 million USD), bulldozers, scrapers, ironers, graders, and excavators (147.7 million USD), and gasoline (120.7 million USD).
In December 2024, exports decreased by 217.4 million USD (15.5%) compared to the previous month, while imports increased by 29.2 million USD (2.9%).
Source: https:eguur.mn
