As of Sep, 2016, Mongolia has engaged trade with 155 countries and total turnover of foreign trade has reached to USD 5.7 billion. Export is USD 3.3 billion in initial three quarters which is 5.9% less than previous year, and import decreased to be USD 2.4 billion.
Import and export decrease of Mongolia in initial three quarters of 2016 shows that economic activation is falling down. Copper concentrate and knit product trade mainly influenced on export decrease and copper concentrate export decreased by USD 441.8 million. In contrast, coal export grew up by USD 76.9 million.
As of September, diesel fuel import fell down by USD 126.5 million and petrol import decreased by USD 69 million which influenced on import decrease. As of import, its 59% consist of mineral product, machinery, equipment, electronic appliance and vehicle parts. Particularly, 28.8 thousand sedans were imported as of initial 9 months of 2016 which equals to USD 181 million, 12.5% higher than previous year. Import increase from Japan and Japan Yen exchange rate increase influenced on quantity and monetary amount growth. 33.5% of total import was made from China, 25.1% from Russia and 8.9% from Japan.
Since implementation of Mongolia-Japan partnership agreement, import products from Japan to Mongolia have increased. Furthermore, foreign trade equation increased by USD 200.7 million and reached to USD 884.8 million.
As of Sep, 2016, Mongolia has engaged trade with 155 countries and total turnover of foreign trade has reached to USD 5.7 billion. Export is USD 3.3 billion in initial three quarters which is 5.9% less than previous year, and import decreased to be USD 2.4 billion.
Import and export decrease of Mongolia in initial three quarters of 2016 shows that economic activation is falling down. Copper concentrate and knit product trade mainly influenced on export decrease and copper concentrate export decreased by USD 441.8 million. In contrast, coal export grew up by USD 76.9 million.
As of September, diesel fuel import fell down by USD 126.5 million and petrol import decreased by USD 69 million which influenced on import decrease. As of import, its 59% consist of mineral product, machinery, equipment, electronic appliance and vehicle parts. Particularly, 28.8 thousand sedans were imported as of initial 9 months of 2016 which equals to USD 181 million, 12.5% higher than previous year. Import increase from Japan and Japan Yen exchange rate increase influenced on quantity and monetary amount growth. 33.5% of total import was made from China, 25.1% from Russia and 8.9% from Japan.
Since implementation of Mongolia-Japan partnership agreement, import products from Japan to Mongolia have increased. Furthermore, foreign trade equation increased by USD 200.7 million and reached to USD 884.8 million.