AKIPRESS.COM - In the first two months of 2021, Mongolia traded with 112 countries from all over the world, and the total trade turnover reached USD 2.3 billion, of which USD 1.3 billion were exports and USD 922.3 million were imports, Montsame reports.

The total foreign trade turnover increased by USD 736.1 million (48.4%), where exports increased by USD 563.8 million (73.2%) and imports increased by USD 172.3 million (23.0%) compared to the same period of previous year. In February 2021, exports reached USD 694.7 million, increased by USD 54.8 million (8.6%) and imports reached USD 463.5 million, increased by USD 4.6 million (1.0%) compared to the previous month.

The foreign trade balance was in surplus of USD 412.3 million in the first two months of 2021, increased by USD 391.6 million compared with USD 20.7 million in the first two months of 2020. Trade with China reached USD 1.6 billion in the first 2 months of 2021, which is 69.6% of the total trade turnover.

Bituminous coal and copper concentrates accounted for 33.5% and 35.8% of total exports to China, respectively, and bituminous coal accounted for 98.7% of total export to Singapore, while fluorspar accounted for 41.7% of total export to Russia.

In the first two months of 2021, USD563.8 million increase in exports from the previous year was resulted from USD217.7 million increase in copper concentrates exports and USD219.4 million in coal exports.

In the first two months, 38.0% of the total imports were from China, 27.9%-- Russia, 8.0% -- Japan, 3.7% -- the Republic of Korea and 3.3% -- Germany, which account for 80.9% of the total imports.

In the first two months, 52.4% of the total imports from Russia were petroleum products, 67.6% of the total imports from Japan were cars, and 6.2% of the total imports from China were electricity, 12.3% -- trucks and 81.5% were imports of other products.

The USD 172.3 million increase in imports from the previous year was mainly due to USD 40.1 million increase in wheat, USD34.6 million increase in trucks, and USD8.0 million increase in cars.

Exports of mineral products, food products, and vegetable origin products made up 92.7 percent of the total export. On the other hand, 64.7 percent of the total imports was mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.