In the first 7 months of 2021, Mongolia traded with 141 countries from all over the world, and the total trade turnover reached USD 8.6 billion, of which USD 4.7 billion were exports and USD 3.8 billion were imports. The total foreign trade turnover increased by USD 1.8 billion (27.5%), where exports increased by USD 953.0 million (25.2%) and imports increased by USD 896.1 million (30.5%) compared to the same period of the previous year.

In July 2021, exports reached USD 630.3 million, decreased by USD 158.0 million (20.0%) and imports reached USD 577.1 million, decreased by USD 82.5 million (12.5%) compared to the previous month.

The foreign trade balance was in surplus of USD 903.4 million in the first 7 months of 2021, increased by USD 56.8 million from the previous year and compared with surplus of USD 846.6 million in the first 7 months of 2020.

In the first 7 months of 2021, USD 953.0 million increase in exports from the previous year was resulted from USD 319.9 million increase in Iron ores and concentrates, USD 762.6 million increase in copper concentrates exports and USD 234.1 million increase in coal exports.

In the first 7 months of 2021, 38.9% of the total imports were from China, 26.9% -- from Russia, 6.8% -- from Japan, 4.4% -- from the Republic of Korea and 3.5% -- from Germany, which are accounting for 80.5% of the total imports. In the first 7 months of 2021, 50.4% of the total imports from Russia were petroleum products, 69.5% of the total imports from Japan were cars, and 4.9% of the total imports from China were electricity, 15.2% were trucks and 79.9% were imports of other products. The USD 896.1 million increase in imports from the previous year was mainly due to USD 40.1 million increase in wheat, USD 157.9 million increase in trucks, USD 83.0 million increase in diesel and USD 48.9 million increase in cars.

Exports of mineral products, natural or cultured stones, precious metal, jewelry made up 89.0 percent of the total export. On the other hand, 64.7 percent of the total imports was mineral products, machinery, equipment, electric appliances and its spare parts, transport vehicle and its spare parts and food products.

Source: National Statistics Office of Mongolia