FX.co ★ Mongolia Trade Surplus Remains Near 3-Year High

Mongolia experienced a significant expansion in its trade surplus, reaching USD 656.7 million in November 2025, compared to USD 405.9 million in November of the previous year. This increase was driven by a 7.9% year-over-year rise in exports, totaling USD 1,513.0 million, and a 14% decrease in imports, bringing them down to USD 856.3 million. Over the January to November period, however, the trade surplus saw a contraction, declining to USD 3,531.9 million from USD 4,009.4 million during the same span the year before. This was largely due to a 5.9% decline in exports, amounting to USD 13,742.5 million, primarily due to downturns in textiles and textile articles, which dropped by 10.9%, as well as mineral products, which fell by 7.9%. China remained the principal recipient of Mongolian exports, comprising 90.2% of the total, with Switzerland and the United States following at 6.1% and 0.9% respectively. Imports also saw a decline, decreasing by 3.6% to USD 10,210.6 million, primarily impacted by reduced acquisitions of transport vehicles and spare parts (down 16.7%), mineral products (down 2.4%), and machinery, equipment, and electrical appliances (down 1.3%). China continued to dominate as the largest source of imports at 24%, trailed by Germany at 14.4% and Russia at 10.1%.