Mongolia Balance of Trade

Last Release

Dec 31, 2024

Actual

159.3

Units In

USD Million

405.9

Frequency

Monthly

Next Release

Feb 17, 2025

Time to Release

30 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
776.1 Mar 2023	-369.8 Jul 2012	55.11 USD Million	1997-2024	National Statistical Office of Mongolia

Mongolia exports mineral products (copper, coal, molybdenum, tin, tungsten, and gold), natural or cultured stones, jewelry, cashmere, animal origin products, hides and skins. Mongolia's main exports partner is China (89% of total exports). Others include: Canada and Russia. Mongolia imports mainly mineral products, machinery, equipment, electric appliances, recorders,TV sets & spare parts, vehicles, food products and base metals. Mongolia's main import partners are Russia (22% of total) and China (26%). Others include Japan, USA and Germany.

Latest Updates

Mongolia’s trade surplus narrowed sharply to USD 159.3 million in December 2024 from USD 497.4 million in the same month a year ago. This was the smallest trade surplus since September, as exports fell by 13.7% while imports rose by 17.2%. For 2024, the trade surplus narrowed to USD 4,170.9 million from USD 5,936.6 million last year. Exports grew at a softer 3.9% year-on-year to USD 15,783.4 million, as increases in sales of mineral products (4.7%) and natural/cultured stones, precious metal (19.7%) were offset by sharp declines in sales of vegetable origin products (-54.6%) and food (-34.5%). China (91.4%) accounted for the largest share of total exports, followed by Switzerland (4.7%) and the US (1.1%). Meanwhile, imports jumped by 25.5% to USD 11,612.5 million, mainly influenced by imports of transport vehicles & their spare parts (44.7%) and machinery, equipment & electric appliances (43.3%). The majority of imports came from China (40.2%), Russia (24.3%), and Japan (10.1%).