Foreign trade turnover up in H1, surplus down
13th of 8, 2018
Foreign trade turnover reached $6.3 billion at the half-year mark, according to the National Statistics Office, with exports of $3.6 billion and imports of $2.7 billion. The three figures show a 26%, 15.3% and 43.4% YoY increase respectively. Foreign trade surplus fell 30.4% YoY to stand at $822.2 million.
Minerals and textile products were the major export earners, showing YoY increase of $472.1 million and $34.1 million respectively. Conversely the $834.6 million YoY increase in import was made up of $152.9 million worth mineral products, $59.4 million worth diesel, $176.8 million worth vehicles, $189.5 million worth vehicle spare parts, and $127.8 million worth metal and metallurgical products.
Mineral export earned $3.27 billion, an 18.5% increase YoY. Standing at $1.4 billion, coal export showed a 10% YoY increase. In terms of volume, 18.27 million tonnes of coal was exported, a YoY decrease of 4.6%. The 3.96 million tonnes of coal exported in June was slightly less than what had been exported in May.
The exported 733,700 tonnes of copper concentrate brought in $1.14 billion, a 32.6% rise YoY, even though the volume did not rise. As for processed pure copper, 6,964 tonnes were exported for $46.75 million. The volume fell 16.8% YoY but earnings rose 0.5% YoY.
Crude oil earned $212.4 million from the 3.3 million barrels exported. A YoY comparison showed 11.3 decrease in volume and 16.7% increase in income.
Some 3.4 tonnes of unprocessed or semi-processed gold was sold for $144.5 million, showing a respective decrease of 23.2% and 19.8% YoY. The amount of gold sold to Bank of Mongolia was 7.1 tonnes, which was a 6% YoY increase.
The 3.37 million tonnes of iron ore exported brought in $156.1 million revenue, YoY an increase of 23.1% and fall of 3.5% respectively.
The $108 million earned from export of 61,600 tonnes of raw zinc and zinc concentrate showed a 6.7% YoY increase in volume and 24.9% YoY increase in income.
In the first six months, 196,000 tonnes of fluorite ore and fluorite concentrate were exported for altogether $64.3 million, showing a 37.4% and 87.2% YoY increase respectively.
Export of 2,800 tonnes of molybdenum concentrate earned $22.5 million, which indicates 5.5% YoY decrease in volume and 36.9% increase in revenue respectively. As for lead, 10,200 tonnes were sold for $26.4 million, showing a YoY increase in both volume (36.4%) and revenue (35%).
Some 198.3 tonnes of tungsten was exported for $2.2 million, showing a respective YoY rise of 10.9% and 43.8%.