Foreign trade shows $2.28-billion surplus in 2020

B.Tugs

Mongolia’s foreign trade turnover for the full year in 2020 reached $12.9 billion, 6.4% or $876.9 million less YoY. Exports accounted for $7.6 billion, down 0.6% YoY, and imports fell 13.6% YoY to $5.3 billion. The foreign trade balance shows a $2.28-billion surplus.
In terms of mineral exports, 28.6 million tonnes of coal were exported, 7.9 million tonnes or 21.6%  less YoY. Revenue from this fell 30.9% to $2.12 billion. The figures for December show that 1.6 million tonnes were exported, 5.6% less YoY and 49.3% less than in November.

Gold was the second largest earner among minerals exported, with 30.5 tonnes exported for $1.79 billion, showing a YoY increase of 236% in volume and 327% in value. Exports in December stood at 2.8 tonnes and earnings at $163 million.

Copper concentrate export stood at 1.39 million tonnes, earning $1.78 billion, showing a YoY decrease of 0.6% and 0.99% respectively.

Iron ore exports reached 8.2 million tonnes, bringing in $639.7 million. Despite a 2.9% decrease in volume, revenue rose 11% YoY because of higher prices.