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Mongolia’s foreign trade turnover reached USD 13.7 billion

In the first seven months of 2023, Mongolia’s trading activity has been quite active, reaching a total of USD 13.7 billion. This reflects a noticeable increase of USD 2.5 billion compared to the same period last year, showing growth of about 22.2%. Interestingly, our exports managed to surpass imports by around USD 3.7 billion.

Foreign trade /January-July 2023/
Source: Customs General Administration

Between January and July, Mongolia managed to send out goods and raw materials worth USD 8.7 billion. This is a considerable leap of 34.5% compared to the same time last year. Notably, a substantial portion of these exports (91.8%) found their way to China, with smaller amounts (3.7%) making their journey to Switzerland, and even less (1.4%) reaching South Korea.

When it comes to what Mongolia is known for exporting, coal takes the lead, making up a significant 57% of our exports. Copper ore and concentrate follow at 17.8%, and there’s also unprocessed or semi-processed gold, which contributes a notable 4.6%.

All in all, Mongolia’s trading efforts show positive progress, with various key products finding their place in the global market.



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