Mongolian external trade balance, maintaining its positive performance, reached USD 151.3 million as of January 2017
Total trade turnover in reporting month grew by 33.6% compared with same time of last year, reached USD 705.7 million. The increase of trade turnover was contributed by 30.2% growth of export, 39.2% growth of import.
As of January 2017, share of mineral products in total export equals 87.6% whereas share of textile and natural, cultured stones metals were 2.8%, 4.2% respectively.
Although border price of exporting copper concentrate dropped, exporting coal price has been grown in recent months. For instance, border price of exporting coal grew by 2.2 times than January 2016. And it was USD 29.6 per ton whereas touched USD 64.3 per ton presently.
Specifically, coal export income had an influence on the total export growth significantly. It was USD 34.3 million January 2016 whereas amounted USD 169.3 million in reporting month.
In import side, total import raised 39.2% and reached USD 277.2 million. The growth in total import contributed by export of mineral and chemical product, base metals as well as machinery and its equipment, electric appliances.
The improving trade performance will have a positive impact on international reserve further and it equals USD 1.3 billion in December 2016 as per BoM’s statement.