According to figures recently made public by The National Statistical Office, Mongolia’s total external trade deficit reached US$756.3 million in the first 9 months of 2008. This is US$593.8 million more than the same period in 2007. A comparison between the two periods also shows the total external trade turnover growing by 69.9 percent, exports by 51.5 percent and imports by 86.4 percent.

Mineral products exports increased by US$355.7 million. The volume of copper concentrate exports decreased by 3.4 percent but their value in US$ rose by 16.9 percent. The average price of copper concentrate per ton in the first nine months of 2007 was US$1,293.2, while this year it rose to US$1,564.8, an increase of 21 percent.
The volume of gold exports, unwrought or in semi-manufactured forms, increased by 64.7 percent and their value in US$ increased 2.3 times. The average price of gold per ton, unwrought or in semi-manufactured forms, was US$19,500 in January-September 2007, and US$27,700 this year, an increase of 42.2 percent.
Mineral products imports form a high percentage of total imports, and rose by US$352.5 million. Imports of cellulose, paper, cardboard and articles thereof increased by US$238.7 million; of auto, air and water transport vehicles and their spare parts by US$197.2 million; and of machinery, equipment, electrical appliances, recorders, TV sets & spare parts by US$152.5 million. Food products and vegetable origin products imports cost US$61.7 million and USD48.3 million more respectively.
Petrol import was up by 38,300 tons and cost US$119.7 million more. Altogether 13,500 more cars were imported, costing US$77.5 million more. Flour import rose by 47,600 tons or US$31.8 million. Electricity import decreased by 6.5 million kwh, but the price went up by US$1.3 million.

 

Source: en.news.mn