Mongolia Balanza Comercial

Mongolia’s trade surplus narrowed sharply to USD 46 million in January 2025, down from USD 331.9 million in the same month a year earlier. This marks the smallest trade surplus since the deficit in January 2022, as exports plunged by 19.5% year-on-year to USD 1,019.2 million, mainly due to lower sales of mineral products (-23.8%), particularly bituminous coal (-44.1%). Among trading partners, China accounted for the largest share of outbound shipments at 91%, with coal and copper ores and concentrates making up 51.0% and 28.4% of total exports to China, respectively. Meanwhile, imports rose 4.1% year-on-year to USD 973.2 million, driven by increased purchases of mineral products (+4%) and machinery, equipment, and electrical appliances (+21.7%). Regarding trading partners, China held the largest share of imports at 32.8%, followed by Russia (26.5%), Japan (14.5%), and the US (7.2%).