FX.co ★ Mongolia’s Trade Surplus Narrows in May

Mongolia experienced a reduction in its trade surplus, which decreased to USD 201.0 million in May 2025 from USD 548.8 million in the same period the previous year. Exports declined by 16.7% year-over-year, totaling USD 1,182.0 million, while imports saw a slight increase of 1.2%, amounting to USD 981.0 million. During the January to May timeframe, the trade surplus contracted to USD 884.5 million from USD 1,962.3 million compared to the previous year. This was largely due to a 14.7% drop in exports, which fell to USD 5,424.6 million. The decline was primarily attributed to decreased sales of key commodities such as coal, washed cashmere, crude petroleum oils, and iron ore and concentrates. China continued to be Mongolia’s primary export destination, making up 91.9% of the nation’s outward shipments, with coal accounting for 45.8% of exports and copper ores and concentrates contributing 37.2%. On the import side, Mongolia saw a 3.3% increase, reaching USD 4,540.1 million, largely driven by increased purchases of automobiles, vehicle spare parts, and mobile phones. China was the largest source of imports, representing 36.9% of the total, followed by Russia at 24.3% and Japan at 13.2%.