From January-November, Mongolia traded with a total of 162 countries, and the total foreign trade turnover reached USD 19 billion. Total turnover increased by 26.6% from the same period last year. As a result, the foreign trade balance was USD 3.3 billion.
Total export amounted to USD 11.1 billion and import was USD 7.9 billion. Trade with China accounted for 64 percent of total foreign trade. The increase in the total volume of exports was mainly due to the increase in exports of coal, dirty cashew, and zinc ore. Mining products account for the majority of Mongolia’s exports. In this regard, the government is working to trade mining products on the stock exchange.
Regulations on online trading of export coal have been approved. In addition, the Law on Exchange is being discussed by the Parliament. The law will come into effect on July 1. Base metals such as copper and iron will also be traded on the exchange.
In addition, the government announced that 30 percent of the coal of “Erdenes Tavantolgoi” will be sold on this exchange. The Financial Regulatory Commission will supervise the operation of the exchange.