TOTAL FOREIGN TRADE TURNOVER SHOWS INCREASE OF 26.5 PERCENT

Ulaanbaatar/MONTSAME/ In the first 5 months of 2018, Mongolia traded with 131 countries from all over the world and total trade turnover reached USD 5.1 billion, of which USD 2.9 billion were made up by exports and USD 2.2 billion by imports. Total foreign trade turnover increased by USD 1.1 (26.5%) billion, of which exports by USD 379.3 (15.1%) million and imports by USD 681.1 (45.5%) million compared to the same period of the previous year. In the first 5 months of 2018, foreign trade surplus reached USD 706.4 million, which decreased by USD 301.8 (29.9%) million from USD 1.0 billion in the same period of 2017. The increase of USD 379.3 million in exports was due to an increase of USD 371.9 million in mineral products exports, particularly an increase of USD 15.0 million in textile articles exports. The increase of USD 681.1 million in imports was mainly due to USD 121.8 million increase in mineral products imports, especially USD 65.3 million increase in diesel imports, USD 155.9 million in machinery, equipment and electric appliances, USD 140.0 million in transport vehicles and their spare parts and USD 102.9 million in base metals and articles thereof. Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals and jewellery make up to 95.0% of total export. On the other hand, 66.8% of imports are mineral products, machinery, equipment, electric appliances, transport vehicles and their spare parts, and food products. Source: National Statistical Office