Mongolia trade performance recorded a total foreign trade turnover of USD 19.2 billion in the first nine months of 2025. Exports reached USD 10.7 billion, and imports totaled USD 8.5 billion, resulting in a USD 2.2 billion trade surplus. This shows Mongolia’s continued engagement with global markets despite some declines.
Overall, total trade turnover fell by 5.7 percent, or USD 1.2 billion, compared with the same period in 2024. Exports dropped 9.1 percent, equivalent to USD 1.1 billion, while imports declined slightly by 0.9 percent, or USD 77.1 million. As a result, the trade balance fell by 31.5 percent, down USD 1 billion.
The fall in exports came mainly from coal shipments, which decreased by USD 2.7 billion. Washed cashmere exports fell by USD 252 million, crude oil by USD 48.9 million, and mutton and goat meat by USD 14.1 million. However, copper ore and concentrates increased by USD 1.7 billion, combed animal hair rose by USD 141.9 million, and zinc ore and concentrates grew by USD 45.5 million.
Imports decreased largely due to lower purchases of trucks, down USD 152.1 million, and public transport vehicles, down USD 48.7 million. Bulldozers and excavators fell by USD 32.3 million, wheat by USD 21 million, and diesel fuel by USD 20.8 million. On the other hand, passenger car imports rose by USD 66.2 million, while nitrogen fertilizers increased by USD 19.9 million.
Analysts say Mongolia trade performance highlights both the country’s dependence on commodities and the shifting structure of imports. Mineral exports helped sustain the trade surplus, but coal and cashmere declines show market volatility. Experts expect continued diversification of exports and imports to stabilize trade performance.
Looking ahead, Mongolia could benefit from strategic trade partnerships and investment in value-added industries. Expanding mineral and processed goods exports, while managing critical imports, may help maintain a healthy trade balance.
Mongolia trade performance demonstrates the country’s resilience amid global commodity price fluctuations and underscores the importance of economic diversification.
