Exports of mineral products, textiles and precious metals make up 95.7% of Mongolian total export

AKIPRESS.COM - In the first 8 months of 2019, Mongolia traded with 143 countries from all over the world and total trade turnover reached $9.5 billion, of which $5.4 billion were exports and $4.1 billion were imports, Montsame reported.
In August 2019, exports and imports reached to $815.6 million and $584.0 million, respectively. Compared to the previous month, exports increased by $183.1 million and imports decreased by $29.4 million.
In the same period of 2019, total foreign trade turnover increased by $1.0 billion (11.9%) , of which exports increased by $715.8 million (15.3%) and imports increased by $289.2 million (7.6%) compared to the same period of previous year.
In the first 8 months of 2019, foreign trade surplus reached $1.3 billion, which increased by $426.6 million from $869.2 million in the same period of 2018. In August 2019, foreign trade surplus reached to $231.6 million. Compared to the previous month, foreign trade surplus increased by $212.5 million. The 715.8 million increase in exports from the same period of previous year was due to the increases of $294.8 million in bituminous coal and $199.8 million in gold, unwrought or in semi-manufactured forms exports.
The $289.2 million increase in imports from the same period of previous year was mainly due to $57.2 million increase in mineral products imports, especially, $99.0 million increase in diesel imports and $176.0 million increase in transport vehicles and its spare parts.
Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals jewelry make up to 95.7 percent of total export. On the other hand, 68.6 percent of imports are mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.