[1] Primary trade source
OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.
Country intelligence · MNG · 2024
Mongolia trade profile
In 2024, Mongolia recorded $15.0B in merchandise exports and $11.2B in imports, producing a $3.8B trade surplus. Exports changed +4.8% from the previous year, while imports changed +28.9%.[1]
Exports
$15.0B
+4.8%
Imports
$11.2B
+28.9%
Trade balance
$3.8B
surplus
Active partners
270
0 FTA-linked
Historical evidence
Ten-year trade movement
The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
ExportsImports
Exact annual values
Leading export sectors
HS2 chapters rank broad product groups by observed export value in 2024.
1$8.7B
HS 27 · Mineral fuels and oils
29 active HS6 lines · 14 export partners
2$4.1B
HS 26 · HS chapter
19 active HS6 lines · 18 export partners
3$921.5M
HS 71 · Precious metals and stones
31 active HS6 lines · 30 export partners
4$395.1M
HS 51 · HS chapter
31 active HS6 lines · 31 export partners
5$219.2M
HS 25 · HS chapter
65 active HS6 lines · 24 export partners
6$128.3M
HS 74 · HS chapter
42 active HS6 lines · 11 export partners
7$94.9M
HS 02 · HS chapter
42 active HS6 lines · 15 export partners
8$82.3M
HS 16 · HS chapter
34 active HS6 lines · 5 export partners
Leading export markets
Destinations rank bilateral export flows from Mongolia; growth describes each corridor rather than the whole economy.
1$13.4B
China
Annual change +2.7% · 3-year CAGR 24.1%
2$909.7M
Switzerland
Annual change +23.3% · 3-year CAGR -2.7%
3$208.4M
Singapore
Annual change +485.8% · 3-year CAGR -5.5%
4$126.7M
Russia
Annual change +13.6% · 3-year CAGR 7.3%
5$103.3M
Italy
Annual change +20.7% · 3-year CAGR 56.6%
6$91.3M
South Korea
Annual change +28.6% · 3-year CAGR 24.5%
7$23.1M
United States
Annual change -5.5% · 3-year CAGR 5.4%
8$22.2M
Japan
Annual change -23.8% · 3-year CAGR -3.2%
Sources, definitions and limitations
Calculation notes
USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.