Mongolia Balanza Comercial

Mongolia’s trade surplus narrowed sharply to USD 159.3 million in December 2024 from USD 497.4 million in the same month a year ago. This was the smallest trade surplus since September, as exports fell by 13.7% while imports rose by 17.2%. For 2024, the trade surplus narrowed to USD 4,170.9 million from USD 5,936.6 million last year. Exports grew at a softer 3.9% year-on-year to USD 15,783.4 million, as increases in sales of mineral products (4.7%) and natural/cultured stones, precious metal (19.7%) were offset by sharp declines in sales of vegetable origin products (-54.6%) and food (-34.5%). China (91.4%) accounted for the largest share of total exports, followed by Switzerland (4.7%) and the US (1.1%). Meanwhile, imports jumped by 25.5% to USD 11,612.5 million, mainly influenced by imports of transport vehicles & their spare parts (44.7%) and machinery, equipment & electric appliances (43.3%). The majority of imports came from China (40.2%), Russia (24.3%), and Japan (10.1%).