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.
