Foreign trade turnover of Mongolia increases by $514.5 million

AKIPRESS.COM - In the first 5 months of 2019, Mongolia traded with 135 countries from all over the world and total trade turnover reached $5.6 billion, of which $3.3 billion were exports and $2.3 billion were imports. In May 2019, exports and imports reached to $751.4 million and $548.8 million, respectively, Montsame reports. In the first 5 months of 2019, total foreign trade turnover increased by $514.5 (10.2 percent) million, of which exports increased by $378.2 million (13.1 percent) and imports increased by $136.3 million (6.3 percent) compared to the same period of the previous year.
The $378.2 million increase in exports from same period of previous year was due to the increases of $68.0 million in bituminous coal and $51.4 million in gold, unwrought or in semi-manufactured forms exports.
The $136.3 million increase in imports from same period of previous year was mainly due to $36.8 million increase in mineral products imports, especially, $46.1 million increase in diesel imports and $100.6 million increase in transport vehicles, their spare parts.
Exports of mineral products, textiles and textile articles, natural or cultured stones, precious metals, jewelry make up to 96.6 percent of total export. On the other hand, 68.9 percent of imports are mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.