In the first 8 months of 2018, total foreign trade turnover of Mongolia reached USD 8.5 billion, of which USD 4.7 billion were made up by exports and USD 3.8 billion - by imports.

Total foreign trade turnover increased by 23.7%, of which exports by 13.9% and imports by 38.3% respectively compared to the same period of the previous year.

In the first 8 months of 2018, minerals exports reached USD 3.98 billion, increased by 21.2 percent from the same period of the previous year.

Coal export volume in the first half was around 23.8 million tonnes, a y-o-y decrease of 1.4%, and revenue increased by 17.3% to USD 1.85 billion. In August, coal export rose 17% from July to 2.98 million tons.

Main coal exporters, such as ‘Erdenes Tavan Tolgoi’ exported 9.5 million tons of coal in September. The company aims to export 13 tons of coal this year. ‘Mongolia Energy Corporation’ that operates in Khushuut mine exported 630 thousand tons of washed coal last year. In the first nine months of 2018, the company has already exceeded its annual output. ‘Mongolia Energy Corporation’ aims to export 1 million tons of enriched coal. ‘Energy Resource’ company sold 2.1 million tons of washed coal in the first half of this year.

In the first half of 2018, copper concentrate export reached 959.5 thousand tons, a y-o-y drop of 2.1%. The export revenue is accounted for USD 1.33 billion, increasing 28.7 percent.

In the first half of 2018, 9,085.7 tons of processed pure copper were exported, dropped by 15.6 percent, and the USD 59.6 million earned was higher by 2.1%. 

Copper concentration of ‘Oyu Tolgoi’ LLC increased by 1.5 percent, and the gold output rose 19 percent, according to ‘Turquoise Hill Resources’.

The 3.4 tonnes of unrefined gold exported and the USD 144.5 million earned marked approximately 60 percent decrease y-o-y. In the first 8 months of 2018, the BoM’s gold purchases stayed at the same level and has reached 12.2 percent.

Crude oil exports reached 4.4 million barrels and earned USD 287 million, a y-o-y drop of 13.3% in terms of volume while income rose by 17.3%.

Iron ore exports reached 4.59 million tons and earned USD 210.3 million, a y-o-y rise of 20.5% in terms of volume while income fell by 2.3%.

Export of zinc concentrate increased by 0.2% y-o-y and reached 81.2 thousand tons, while the USD 138.5 million revenue was up 16.6%.

Export volume of fluorspar increased by 51.4% y-o-y to 289 thousand tons, and revenue rose 2 times to reach USD 97 million.

Source: MongolianMiningJournal.com