Mongolia's trade surplus narrowed to USD 252.4 million in February 2024 from USD 659.4 million in the corresponding month of the previous year, as exports fell 21.9% to USD 913 million while imports grew 29.6% to USD 660.6 million. Considering January to February 2024, the total foreign trade turnover reached 3.8 billion, with exports falling 0.4% to USD 2,240.3 million, driven by lower sales of vegetable origin products, food products and natural/culture stones, precious metal. Among trading partners, China (93.3%) accounted for the largest share of total exports, followed by Switzerland (3.7%) and Russian Federation (0.9%). Meanwhile, imports surged 33.1% to USD 1,595.9 million, bolstered by higher purchases of transport vehicles & their spare parts, machinery, equipment & electric appliances and mineral products. Arrivals mostly came from China (34.4%), followed by Russian Federation (28.4%) and Japan (12.4%). source: National Statistical Office of Mongolia

Mongolia recorded a trade surplus of 252.40 USD Million in February of 2024. Balance of Trade in Mongolia averaged 45.63 USD Million from 1997 until 2024, reaching an all time high of 776.30 USD Million in March of 2023 and a record low of -369.80 USD Million in July of 2012. This page provides - Mongolia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mongolia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.

Mongolia recorded a trade surplus of 252.40 USD Million in February of 2024. Balance of Trade in Mongolia is expected to be 500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mongolia Balance of Trade is projected to trend around 680.00 USD Million in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-16 09:30 AM
Balance of Trade
Jan $388.9M $494.5M $498.0M
2024-03-13 09:30 AM
Balance of Trade
Feb $252.4M $388.9M $340.0M
2024-04-15 09:30 AM
Balance of Trade
Mar $ 500M


Related Last Previous Unit Reference
Balance of Trade 252.40 388.90 USD Million Feb 2024
Capital Flows -450.73 -786.32 USD Million Jan 2024
Crude Oil Production 15.00 15.00 BBL/D/1K Nov 2023
Current Account -309.65 -237.87 USD Million Jan 2024
Current Account to GDP -10.90 -13.40 percent of GDP Dec 2023
Exports 913.00 1324.80 USD Million Feb 2024
Exports by Category
Exports by Country
External Debt 34569800.00 33990580.00 USD Thousand Dec 2023
Foreign Direct Investment 30587.37 29751.72 USD Million Dec 2023
Gold Reserves 6.03 6.61 Tonnes Dec 2023
Imports 660.00 936.00 USD Million Feb 2024
Imports by Category
Imports by Country
Remittances 4.06 10.32 USD Million Jan 2024
Terrorism Index 0.00 0.00 Points Dec 2023

Mongolia Balance of Trade
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.
Actual Previous Highest Lowest Dates Unit Frequency
252.40 388.90 776.30 -369.80 1997 - 2024 USD Million Monthly

News Stream
Mongolia Trade Surplus Narrows in February
Mongolia's trade surplus narrowed to USD 252.4 million in February 2024 from USD 659.4 million in the corresponding month of the previous year, as exports fell 21.9% to USD 913 million while imports grew 29.6% to USD 660.6 million. Considering January to February 2024, the total foreign trade turnover reached 3.8 billion, with exports falling 0.4% to USD 2,240.3 million, driven by lower sales of vegetable origin products, food products and natural/culture stones, precious metal. Among trading partners, China (93.3%) accounted for the largest share of total exports, followed by Switzerland (3.7%) and Russian Federation (0.9%). Meanwhile, imports surged 33.1% to USD 1,595.9 million, bolstered by higher purchases of transport vehicles & their spare parts, machinery, equipment & electric appliances and mineral products. Arrivals mostly came from China (34.4%), followed by Russian Federation (28.4%) and Japan (12.4%).
2024-03-13
Mongolia Trade Surplus Smallest in 3 Months
Mongolia’s trade surplus narrowed to USD 388.9 million in January 2024 from USD 391.1 million in the same month of the previous year. Exports rose 22.7% from a year earlier to USD 1,324.8 million, driven by higher sales for live animals, animals origin products (60.4%), textiles & textile articles (37.4%), and mineral products (33%). Among trading partners, China (90.7%) accounted for the largest share of total exports, followed by Switzerland (6.2%), and Russian Federation (1.1%). Meanwhile, imports increased at a faster 35.8% from a year earlier to USD 936 million, primarily due to transport vehicle and its spare parts (72.5%), machinery, equipment and electric appliances (63%), and mineral products (23.2%). Arrivals mostly came from China (38.9%), Russian Federation (26%), and Japan (13.3%).
2024-02-16
Mongolia Trade Surplus Narrows in December
Mongolia's trade surplus narrowed to USD 494.5 million in December 2023 from USD 558.3 million in the same month of the previous year. Exports fell 13.5% from a year earlier to USD 1,371.4 million while imports rose 5.4% to USD 877 million. Considering the full 2023 year, the country's trade surplus widened to USD 5.9 billion, with exports surging to USD 15.2 billion, boosted by coal, mineral products, crude oil, and canned meat products. Among trading partners, China (91.4%) accounted for the largest share of total exports, followed by Switzerland (4.4%) and Republic of Korea (1%). Meanwhile, imports increased to USD 9.3 billion, mainly driven by higher purchases of diesel, transport vehicles & their spare parts, and machinery, equipment & electric appliances. Arrivals mostly came from China (40.8%), Russian Federation (25.8%), and Japan (7.7%).
2024-01-17