Mongolia Posts Record Trade Surplus

Mongolia’s trade surplus widened significantly to a record high of USD 939.4 million in March 2026 from USD 174.0 million in the same month last year. Exports soared 82.9% year-on-year to USD 1,843.7 million, while imports rose 8.4% to USD 904.2 million. For the January-March period, the trade surplus increased sharply to USD 2,411.7 million from USD 467.1 million a year earlier. Exports climbed 62.3% year-on-year to USD 4,889.0 million, largely due to higher shipments of mineral products (63.9%), natural or cultured stones and precious metals (87.7%), and textiles and textile articles (24.9%). China accounted for 91.6% of total exports, followed by Switzerland (5.4%) and the US (1.1%). Meanwhile, imports declined by 2.7% to USD 2,477.3 million, weighed down by lower purchases of transport vehicles and spare parts (-35.3%) and machinery, equipment, and electric appliances (-8.4%). China remained the largest source of total imports (35.7%), followed by Russia (30.2%) and Japan (9.6%).

Mongolia’s trade surplus widened to USD 553 million in February 2026 from USD 247.5 million in the same month last year. Exports soared 30.5% year-on-year to USD 1,285.9 million, while imports fell by 0.7% to USD 732.9 million. For the first two months of 2026, the trade surplus increased significantly to USD 1,470.5 million from USD 302.5 million a year earlier. Exports surged by 52% year-on-year to USD 3,046.4 million, largely due to higher shipments of mineral products (57.3%), food products (81.4%), and natural or cultured stones and precious metals (35.6%). China accounted for 91.3% of total exports, followed by Switzerland (5.7%) and the US (1.8%). Meanwhile, imports declined by 7.4% to USD 1,575.9 million, weighed down by lower purchases of transport vehicles and spare parts (-42.4%) and machinery, equipment, and electric appliances (-9.3%). China remained the largest source of imports (34.9%), followed by Russia (31.4%) and Japan (9.5%).

Mongolia’s trade surplus widened sharply to a record high of USD 906.5 million in January 2026, accelerating from USD 55 million a year earlier. Exports surged 71.6% year-on-year to USD 1,749.4 million, supported by stronger shipments of mineral products (69.4%), particularly bituminous coal (39.2%), and iron ores and concentrates (19.5%). China remained the dominant export destination, accounting for 88.9% of total exports, followed by Switzerland (7.2%). Meanwhile, imports fell by 12.6% to USD 843 million, weighed down by lower purchases of transport vehicles & their spare parts (-56.5%), and machinery, equipment, and electric appliances (-8.2%). China also remained the largest share of total imports (37.1%), followed by Russia (31.1%), and Japan (8.9%).