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Trade

China remains Mongolia's biggest trade partner in Q1

April 14, 2020


Abstract : China maintained its position as Mongolia's biggest trade partner in the first quarter of 2020, Mongolia's National Statistics Office (NSO) reported on Monday.

ULAN BATOR, April 13 (Xinhua) -- China maintained its position as Mongolia's biggest trade partner in the first quarter of 2020, Mongolia's National Statistics Office (NSO) reported on Monday.

China took up 56.5 percent of Mongolia's total foreign trade, Dorjdamba Baasan, an economic statistician at the NSO, told a news conference.

Mongolia traded with a total of 121 economies around the world in the January-March period, during which the country's foreign trade volume reached 2.2 billion U.S. dollars, down 28.1 percent from the same period last year.

The drop in foreign trade is partially attributed to a temporary suspension of coal deliveries across its southern border into China as part of precautionary measures against COVID-19, according to the agency.

China has been Mongolia's biggest trading partner and top export market for many years, with bilateral trade surpassing 8 billion dollars in 2019.

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Keyword: China-Mongolia foreign trade

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