It has been five months since COVID-19 pandemic spread to 216 countries. During the coronavirus lockdown months, Mongolia’s foreign trade turnover was USD four billion; a decrease of USD 1.3 billion from the previous year.
Mongolia traded with 131 countries in period between January and May, 2020. The total foreign trade fell by USD 1.6 billion (28.3%), of which exports decreased by USD 1.3 billion (38.5%) and imports by USD 322.6 million (13.9%) compared to the same period of the previous year.
In May 2020, exports and imports reached USD 632.7 million and USD 406.1 million respectively. Compared to the previous month, exports increased by USD 294.9 million while imports dropped by USD 18.7 million.
The foreign trade balance, which was in surplus of USD 948.3 million in the first five months of 2019, decreased by USD 934.5 million, showing a surplus of USD 13.9 million in the first five months of 2020.