Total foreign trade turnover increases by 9.5% in Mongolia

AKIPRESS.COM - In the first 9 months of 2019, Mongolia traded with 145 countries from all over the world and total trade turnover reached USD 10.5 billion, of which USD 5.9 billion were exports and USD 4.6 billion were imports, Montsame said.
In September 2019, exports and imports reached to USD 559.0 million and USD 507.5 million, respectively. Compared to the previous month, exports decreased by USD 256.6 million and imports decreased by USD 76.5 million. Total foreign trade turnover increased by USD 911.0 (9.5%) million, of which exports increased by USD 663.3 million (12.6%) and imports increased by USD 247.8 million (5.7%) compared to the same period of previous year.
In the first 9 months of 2019, foreign trade surplus reached USD 1.3 billion, which increased by USD 415.5 million from USD 931.7 million in the same period of 2018. In September 2019, foreign trade surplus reached to USD 51.4 million. Compared to the previous month, foreign trade surplus decreased by USD 180.2 million.
The 663.3 million increase in exports from the same period of previous year was due to the increases of USD 312.5 million in bituminous coal and USD 199.8 million in gold, unwrought or in semi-manufactured forms exports.
The USD 247.8 million increase in imports from the same period of previous year was mainly due to USD 40.9 million increase in mineral products imports, especially, USD 93.6 million increase in diesel imports and USD 179.8 million increase in transport vehicles and its spare parts.
Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals jewelry made up 95.8 percent of total export. On the other hand, 68.3 percent of imports was mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.