10.11.202610:11:03UTC+00Mongolia Trade Surplus at 15-Month Low

Mongolia's trade surplus narrowed to USD 407.0 million in October 2026, its lowest level since July 2025 and down from USD 689.4 million in October 2025. Exports increased by 5.9% to USD 1,666.6 million, while imports surged 42.4% to USD 1,259.6 million.

Over the first ten months of 2026, exports rose 45.3% year-on-year to USD 17,856.8 million, largely driven by mineral products (+52.9%). Within this category, copper ores and concentrates grew 67.5%, and bituminous coal expanded 52.2%. Textile exports also performed strongly, climbing 44.9%, with combed cashmere up 50.4%.

Imports over the same period increased 16.3% to USD 10,969.9 million, supported primarily by mineral products (+53.9%), notably oil products (+55.6%), and base metals (+13.6%). In contrast, imports of transport vehicles and spare parts fell 6.5%.

China remained Mongolia's largest source of imports, accounting for 41.1% of the total, followed by Russia at 29.0%. As a result, the cumulative trade surplus for the first ten months of 2026 more than doubled to USD 6,886.8 million, compared with USD 2,854.9 million a year earlier.