FX.co ★ Mongolia Posts Record Trade Surplus

Mongolia’s trade surplus widened dramatically to a record USD 906.5 million in January 2026, up from just USD 55 million in the same month a year earlier. Export revenues jumped 71.6% year-on-year to USD 1,749.4 million, driven by robust demand for mineral products (up 69.4%), especially bituminous coal (up 39.2%) and iron ores and concentrates (up 19.5%). China remained Mongolia’s primary export market, absorbing 88.9% of total exports, followed by Switzerland with a 7.2% share.

On the import side, total purchases declined 12.6% to USD 843 million, reflecting steep reductions in imports of transport vehicles and their spare parts (down 56.5%), as well as machinery, equipment, and electrical appliances (down 8.2%). China also retained its position as Mongolia’s largest import partner, accounting for 37.1% of total imports, followed by Russia (31.1%) and Japan (8.9%).