Bank of Mongolia introduced Mongolia`s foreign trade review.
Total trade turnover: $ 3,316.3 millions
As of May 2015 the total cumulative trade turnover decreased by 18.3% (USD 743.5 millions) from that of the previous year and reached USD 3,316.3 millions. The decrease in the trade turnover was due to the decrease in imports by USD 684.9 millions. The structure of the trade flows with the neighboring trade partners is as following: (i) trade with PRC: 63.1% or USD 2,093.2 millions and (ii) trade with Russia: 12.9% or USD 426.5 millions. The trade volume between Mongolia and China increased by 4.3% and the trade volume between Mongolia while Russia decreased by 2.8%.
Trade balance: $422.3 million
As of May 2015, the cumulative trade balance improved by USD 626.3 millions from that of the previous year and reached USD 422.3 millions. During the reporting period even though the total exports decreased by 3.0% from that of the previous year, imports decreased by 32.1% from that of the previous year, thus the trade balance improved by USD 626.3 millions. The three - month moving average value of the difference between annual growth rates of exports and imports started to decline since the beginning of 2015. The high export growth rate during 2014 was due to the exports of copper concentrate and it started to stabilize.
Bank of Mongolia introduced Mongolia`s foreign trade review.
Total trade turnover: $ 3,316.3 millions
As of May 2015 the total cumulative trade turnover decreased by 18.3% (USD 743.5 millions) from that of the previous year and reached USD 3,316.3 millions. The decrease in the trade turnover was due to the decrease in imports by USD 684.9 millions. The structure of the trade flows with the neighboring trade partners is as following: (i) trade with PRC: 63.1% or USD 2,093.2 millions and (ii) trade with Russia: 12.9% or USD 426.5 millions. The trade volume between Mongolia and China increased by 4.3% and the trade volume between Mongolia while Russia decreased by 2.8%.
Trade balance: $422.3 million
As of May 2015, the cumulative trade balance improved by USD 626.3 millions from that of the previous year and reached USD 422.3 millions. During the reporting period even though the total exports decreased by 3.0% from that of the previous year, imports decreased by 32.1% from that of the previous year, thus the trade balance improved by USD 626.3 millions. The three - month moving average value of the difference between annual growth rates of exports and imports started to decline since the beginning of 2015. The high export growth rate during 2014 was due to the exports of copper concentrate and it started to stabilize.