Mongolia's total foreign trade turnover reached USD 2.59 billion in January 2026, marking a 30.1 percent increase compared to the same period last year. The trade balance yielded a record surplus, with exports exceeding imports by USD 906.5 million.

A primary driver of this trade performance was the export of hard coal, which totaled 9.7 million tons in January—an 86.4 percent increase year-over-year. During this period, 100 percent of lead ore, iron ore, copper, molybdenum, zinc concentrate, crude oil, and coal exports, along with 63.5 percent of combed goat cashmere, were directed to China. These specific commodities accounted for 81.3 percent of the total export value.

Regarding domestic market conditions, the National Statistics Office reported that the national consumer price index (inflation) rose 7.5 percent year-on-year in January 2026, and 1.1 percent compared to the previous month. While prices increased across several sectors—including food (12.4 percent), services (8.9 percent), and non-food items (5.6 percent)—the overall inflation growth rate slowed by 1.2 percentage points compared to the 8.7 percent recorded in January 2025.

Key drivers of this inflation included an 18.4 percent rise in meat products (with beef prices up 25.8 percent and mutton/goat meat up 17.5 percent), as well as price hikes in flour (7.7 percent) and pasta (16.8 percent). Imported goods, which comprise 55.3 percent of the consumer basket (238 out of 430 items), accounted for 25.5 percent of the total inflation rate. Regionally, food prices saw the highest increase in the Central region at 13.8 percent, while service prices in Ulaanbaatar rose by 10 percent.

Published Date:2026-02-11