In the first half of 2025, Mongolia’s total foreign trade volume reached $12.1 billion. Exports amounted to $6.6 billion, down $1.3 billion or 16.6% year-on-year — a major economic red flag.

Main contributors to export decline:

Main contributors to export decline:

• Coal: ↓ $2.1 billion
• Washed cashmere: ↓ $148 million
• Crude oil: ↓ $31.4 million
• Mutton: ↓ $24.3 million
  👉 Copper concentrate was the only major product that grew: ↑ $897.9 million

📈 Imports Increased to $5.5 Billion

Total imports rose 2.8%, or $150.1 million, compared to the previous year.

📦 Top growing imports:
🚗 Passenger cars: $207.6M (↑ 47.1%)
🚚 Vehicle parts and accessories: $22M (↑ 67.1%)
📱 Smartphones: $15M (↑ 21.9%)
🥤 Alcoholic beverages: $14.5M (↑ 49.8%)
🛠 Stone-crushing machinery: $10.4M (↑ 13.7%)
🛻 Truck imports declined 13.2% to $44.3M

📌 Takeaway: The export slump reflects weak performance in Mongolia’s traditional commodities — particularly coal and cashmere. Meanwhile, rising imports signal strong domestic consumption, especially for vehicles, electronics, and consumer goods.

Photo source: ugluu.mn