Net exports total 412.3 million USD as of February
In the first two months of 2021, Mongolia traded with 112 countries and total foreign trade turnover reached 2.3 billion USD, with exports accounting for 1.3 billion USD and imports accounting for 922.3 million USD. Total trade turnover increased by 48.4 percent, exports rose by 73.2 percent, and imports rose by 23 percent compared to the same period in 2020. Net export was valued at 412.3 million USD during the reporting period, 391.6 million USD higher than the same period in 2020. Trade in goods and services with China totaled 1.6 billion USD, which accounted for 69.6 percent of all trade turnover. An increase in exports of copper concentrate of 217.7 million USD and coal exports of 219.4 million USD resulted in an increase of 563.8 million USD in export income. In the first two months of 2021, trade with China accounted for 38 percent of imports, Russia made up 27.9 percent, Japan 8 percent, Korea 3.7 percent, and Germany 3.3 percent, accounting for 80.9 percent of all imports.