According to data revealed by the National Statistics Office, Mongolia’s exports in the first quarter of 2018 were valued at $1.5 billion, while imports stood at $1.1 billion, taking total trade turnover to $2.6 billion, which is 25.9% or $2536.7 million more than the corresponding figure in the previous year. Exports rose 14% or $182.5 million, mainly because gold exports fetched $80.8 million and precious metals, semi-precious stones and metal products exports fetched $80.8 million. On the other hand, imports increased by 45.6% or $354.2 million, mainly because mineral products rose $86.8 million, heavy machinery and equipment, electrical appliances and metallic items rose $75.8 million, vehicles and their spare parts rose $57.7 million. This means foreign trade at the end February still showed a surplus, but the amount dropped by 67.4% y-o-y to $112.4 million.

In the first quarter of 2018, foreign trade surplus reached USD 351.9 million, which decreased by USD 171.7 (32.8%) million from USD 523.7 million in the same period of 2017.

Minerals exports reached $1.25 billion, accounting for 84.5% of total exports. Minerals exports has increased by 8 percent year-on-year. Coal picked up $514.5 million which is 41% of total minerals export and 34.7% of total export value. Altogether 3.52 million tonnes of coal was exported in first quarter, 2,267 tonnes or 181% higher than in February.

Coal export in the first quarter was weaker than in the same period last year. The volume was around 6.77 million tonnes, a y-o-y decrease of 16.8%, and revenue dropped by 4.9% y-o-y to $514.5 million. In February, copper export income was more than that from coal, but this month it has been the other way around. 

Copper concentrate export reached 337,700 tonnes, a y-o-y drop of 7.7%, but the $462.5 million earned was 21.6% more. In the case of refined copper, the drop was seen in volume, falling by 14.7% to 3,500 tonnes and the $15.8 million earned was 2.5% more y-o-y.

The 2.9 tonnes of gold exported and the $124.3 million earned marked 2.7 and 2.8 times increase respectively y-o-y.

Crude oil exports reached 1.63 million barrels and earned $101 million, a y-o-y drop of 11.3% in terms of volume while income rose by 8.5%.

At 1.44 million tonnes, iron ore export showed a y-o-y rise of 30.2% but the income of $63.9 million was 8.9% less. Export of zinc concentrate increased by 20% y-o-y and reached 32.9 thousand tonnes, while the $60.2 million revenue was up 49.3%.
Export volume of fluorspar increased by 47.3% y-o-y to stand at 78.3 thousand tonnes, and revenue rose by 2.1 times to reach $25 million. 

Lead export reached 4,020 tonnes, earning $10.64 million, 1.6% and 2.2% higher respectively y-o-y.

The 1,400 tonnes of molybdenum exported was down 18.6% y-o-y, though the $10.1 million revenue was 17.3% higher.

Source: MongolianMiningJournal.com