Trade turnover increases 26 %

In the first seven months of 2018, trade turnover reached 7.3 billion USD, a 26 percent or 1.5 billion USD increase compared to the same period in 2017. Meanwhile, trade surplus stood at 851 million USD. Mongolia traded with 146 countries, exporting to 60 countries and importing products from 144 countries.

Exports reached 4.1 billion USD, a 596 million USD or 16.9 percent increase compared to 2017. The main factors in the increase of exports were the 614.8 million USD increase in mineral products and the 55.8 increase in the export of textile products.

Iron ore, coal, copper concentrate, zinc, molybdenum, fluorspar, and crude oil made up 83.8 percent of all exports. In the first seven months, 20.5 million tons of coal was exported, a 206.6 million USD increase in revenue but 304,700-ton decrease in volume compared to 2017. The average price of coal in the first seven months of 2017 was 67.3 per ton, while it is 78.4 USD per ton in 2018. The majority of coal exports, at 98.9 percent, were to China.

Copper concentrate exports reached 848,100 tons, representing a 4,500 decrease in volume. Despite this, the price of copper concentrates increased by 344.4 USD to reach 1,386 USD. In terms of monetary value, the export of copper concentrates reached 888.7 million USD in the first seven months of 2017, while exports reached 1.2 billion USD in the first seven months of 2018.