APD | Mongolia enjoys trade surplus of 1.5 billion USD last year

By APD writer Alice

Mongolia posted a trade surplus of 1.5 billion USD in 2019, according to the National Statistics Office of Mongolia.

Last year, Mongolia traded with 152 countries worldwide, with total turnover of 13.7 billion USD. Of which, 7.6 billion USD came from exports and 6.1 billion USD was worth of imports.

In December alone, the exports and imports reached 564.2 million USD and 543.6 million USD, respectively, resulting a trade surplus of 20.5 million USD.

China and Russia were the two largest trade partners of Mongolia in 2019.

Before the discovery of the major mining sites, agriculture was main economic sector of Mongolia. In 2019, Mongolia exported 132.2 million USD worth of meat and meat products, 17.2 million USD or 27.4% lower than the previous year.

The shipment of washed cashmere increased by 46.3 million USD, while the export of combed raw cashmere decreased by 9.6 million USD. The export of both washed cashmere and combed raw cashmere makes up to 4.3 percent of total export.

(ASIA PACIFIC DAILY)