Mongolia’s foreign trade turnover increases by 15 percent

Photo credit: Montsame

As of December 2023, Mongolia’s total foreign trade turnover increased by 15 percent (or USD 3194.0 million) compared to the previous year, reaching USD 24,437.0 million. The foreign trade balance was in surplus as exports exceeded imports by USD 5932.0 million. In 2023, trade through temporary ports amounted to USD 395.3 million, constituting 1.6 percent of the total trade turnover, 2 percent of exports, and 0.5 percent of imports, Montsame reports.

A total of USD 15,184.5 million worth of goods and raw materials were exported, an increase of 21.1 percent compared to the same period last year. 98.8 percent of the export goods were traded with foreign currencies. Compared to 2022, it increased by USD 2533.1 million or 20.3 percent.

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