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.