Total foreign trade turnover increases by 23.4 percent

Ulaanbaatar/MONTSAME/ In the first 2 months of 2019, Mongolia traded with 108 countries from all over the world and total trade turnover reached USD 1.9 billion, of which USD 1.1 billion were made up by exports and USD 837.5 million by imports. In February 2019, exports and imports reached to USD 486.4 million and USD 503.5 million, respectively. Compared to the same period of previous month, exports and imports increased by USD 120.9 million and USD 170.4 million.

Total foreign trade turnover increased by USD 366.7 (23.4 percent) million, of which exports by USD 255.2 million (30.4 percent) and imports by USD 111.5 million (15.4 percent) compared to the same period of the previous year.

In the first 2 months of 2019, foreign trade surplus reached USD 256.1 million, which increased by USD 143.7 million from USD 112.4 million in the same period of 2018.

The increase of exports rise by USD 255.2 million was due to an increase of USD 123.7 million in gold, unwrought or in semi-manufactured forms exports.

The increase of imports by USD 111.5 million was mainly due to USD 14.3 million increase in mineral products imports, especially, USD 13.8 million increase in diesel imports, USD 19.8 million increase in machinery, equipment, electric appliances and USD 82.3 million increase in transport vehicles, their spare parts.

Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals jewelry make up to 95.7 percent of total export. On the other hand, 73.4 percent of imports are mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts, and food products.

Source: Montsame News & National Statistics Office of Mongolia