Mongolia Balance of Trade

Mongolia’s trade surplus widened to USD 767.0 million in July 2026, from USD 217.1 million in the same month a year earlier, marking the highest level since March. Exports climbed 54.8% year-on-year to USD 1,812.0 million, while imports rose at a softer pace of 9.6% to USD 1,045.1 million. Over January-July, exports jumped 57.5% to USD 12,205.9 million, driven by higher shipments of mineral products (64.2%), particularly bituminous coal (59.0%) and copper ores and concentrates (89.7%). Among key trading partners, China remained the main export destination, accounting for 94.3% of total exports, followed by Switzerland (3.3%). Meanwhile, imports increased 10.4% to USD 7,158.1 million, supported by higher purchases of mineral products (35.7%), particularly oil products (35.0%), while machinery, equipment, and electrical appliances (8.8%) also posted an increase. China accounted for the largest share of imports (40.2%), followed by Russia (27.7%) and Japan (9.2%).

Mongolia's trade surplus widened to USD 687.8 million in June 2026 from USD 191.9 million a year earlier. Exports rose 62.6% year-on-year to USD 1,923.4 million, oupacing a 24.7% rise in imports to USD 1,235.6 million. For the first half of the year, exports surged 57.9% to USD 10,393.9 million from USD 6,581.3 million a year earlier, driven by mineral products, which rose 64.5% and accounted for 97.6% of total shipments. In particular, copper ores and concentrates represented 44.7% and bituminous coal (37.9%). China remained the main destination (94.1%), while Switzerland ranked second (3.6%). Meanwhile, imports rose at a slower pace of 10.6% to USD 6,116.9 million from USD 5,528.8 million. Petroeum products accounted for 22.3% of total purchases, followed by machinery and equipment (20.7%), which rose 11.6%, and transport vehicles (15.8%), which declined 21.5%. China held the highest share of imports at 39.7%, followed by the Russian Federation at 28.4% and Japan with 9%.

Mongolia’s trade surplus widened to USD 416.6 million in May 2026 from USD 175.1 million a year earlier. Exports surged 43.4% year-on-year to USD 1,657.5 million, while imports jumped 24.5% to USD 1,240.8 million. For the January-May period, the trade surplus increased sharply to USD 3,565.2 million from USD 860.6 million a year earlier. Exports rose 56.9% year-on-year to USD 8,470.5 million, driven by higher shipments of mineral products (62.1%), textiles and textile articles (71.5), food products (37.1%), and natural or cultured stones and precious metals (22.9%). China accounted for 93.6% of total exports, followed by Switzerland (3.9%) and the US (0.9%). Meanwhile, imports increased by 3.1% to USD 3,668.6 million, supported by gains in mineral products (41.3%), base metals and articles thereof (15.0%), and machinery, equipment, and electric appliances (9.4%). China remained the largest source of imports (38.8%), followed by Russia (29.7%) and Japan (8.7%).