Trade Trend

In 2023, Mongolia's total export value is 15.18Billion USD, total import value is 9.25Billion USD, Surplus is 5.93Billion USD, and foreign trade dependency is 1.229. In 2023，Mongolia's top export products are Coal; briquettes, ovoids and similar solid fuels manufactured from coal(8.76Billion USD), Copper ores and concentrates(2.63Billion USD), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(738.02Million USD), top export destinations are China(13.84Billion USD), Switzerland(666.30Million USD), South Korea(150.00Million USD). In 2023, Mongolia's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(1.87Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(677.01Million USD), Vehicles; for the transport of goods(433.15Million USD), top import origins are China(3.75Billion USD), Russia(2.39Billion USD), Japan(716.10Million USD).

Comparing to 2022, Mongolia's total export value increased 2.64Billion USD(21.09%) in 2023, this could result from its export increases of products such as Coal; briquettes, ovoids and similar solid fuels manufactured from coal(2.27Billion USD or 34.92%), Feldspar; leucite; nepheline and nepheline syenite; fluorspar(161.81Million USD or 146.44%), Lignite; whether or not agglomerated, excluding jet(126.48Million USD or 1.65Thousands%) and export increases to countries/economics such as China(3.28Billion USD or 31.09%), Iran(26.82Million USD or 335.40%), United States(26.65Million USD or 269.27%). Comparing to 2022, Mongolia's total import value increased 544.37Million USD(6.25%) in 2023, this could result from its import increases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(145.07Million USD or 8.42%), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(100.75Million USD or 17.48%), Structures of iron or steel and parts thereof; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures(93.06Million USD or 105.35%), and its import increases from countries/economies such as China(707.50Million USD or 23.26%), Japan(41.84Million USD or 6.21%), Vietnam(29.72Million USD or 34.97%).

Cumulated to first 6 months of 2024, Mongolia's total export value is 6.13Billion USD, total import value is 3.89Billion USD, and tradesurplus is 2.23Billion USD. Cumulated to first 6 months of 2024, Mongolia's top export products are Coal; briquettes, ovoids and similar solid fuels manufactured from coal(3.76Billion USD), Copper ores and concentrates(1.15Billion USD), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(277.39Million USD), and top export destinations are China(5.71Billion USD), Switzerland(278.76Million USD), Russia(29.43Million USD). Cumulated to first 6 months of 2024, Mongolia's top import products are Coal; briquettes, ovoids and similar solid fuels manufactured from coal(3.76Billion USD), Copper ores and concentrates(1.15Billion USD), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(277.39Million USD), and top import origins areChina(1.80Billion USD), Russia(680.65Million USD), Japan(484.33Million USD).