Mongolia's foreign trade turnover totaled $3.5bn in Q1

AKIPRESS.COM - In the first quarter of 2021, Mongolia traded with 121 countries from all over the world, and the total trade turnover reached $3.5 billion, of which $2.0 billion were exports and $1.5 billion were imports, Montsame reports. The total foreign trade turnover increased by USD 1.3 billion (60.4%), of which exports increased by USD 964.6 million (93.1%) and imports increased by USD 362.1 million (31.2%) compared to the same period of the previous year.
In March 2021, exports and imports reached USD 665.8 million and USD 601,4 million respectively. Compared to the previous month, exports decreased by USD 28.8 million (4.1%) and imports increased by USD 138 million (29.8%).
Bituminous coal and copper concentrates accounted for 34.3% and 33.6% of total exports to China. Bituminous coal accounted for 96.6% of goods exported to Singapore, while fluorspar accounted for 41.1% of total export to Russia.
In the first quarter of 2021, USD 964.6 million increase in exports from the previous year was resulted from MNT 269.9 million increase in copper concentrates exports and USD 439.4 million increase in coal exports. Export decreased by USD 28.8 million from the previous month, mainly due to a decrease of USD 25.9 million decrease in copper concentrate exports.