FX.co ★ Mongolia Trade Surplus Narrows to Lowest in a Year

Mongolia’s trade surplus narrowed to USD 444.8 million in September 2026, its lowest level since August 2025 and down from USD 487.5 million in September 2025. Exports increased by 16.3% year-on-year to USD 1,804.1 million, while imports rose at a faster pace of 27.8% to USD 1,359.3 million.

Over the first nine months of 2026, exports surged 51.2% year-on-year to USD 16,198.6 million. This robust growth was largely driven by higher shipments of mineral products (up 57.2%), particularly copper ores and concentrates (up 79.4%), as well as textiles and related articles (up 58%). China remained Mongolia’s dominant export market, accounting for 93.2% of total outbound trade, followed by Switzerland with a 4.2% share.

Imports over the same period increased by 13.8% to USD 9,725 million. The rise was underpinned by higher purchases of mineral products (up 41.6%), especially oil products (up 41.7%), and base metals and related articles (up 12.9%). By contrast, imports of transport vehicles and spare parts fell by 8.1%. On the import side, China was also the leading partner, supplying 41.5% of total imports, followed by Russia with a 27.6% share.