In 2022, Mongolia traded with 160 countries. The total trade turnover reached USD 21.2 billion; exports amounted to USD 12.5 billion and imports to USD 8.7 billion.

The total foreign trade turnover increased by USD 5.2 billion (32.1%). Exports increased by 35.7 percent, while imports increased by 27.2 percent compared to the previous year. Exports increased by USD 259.7 million in December 2022 and imports increased by USD 107.4 million compared to the previous month.

The foreign trade balance in 2022 developed with a positive balance of USD 3.8 billion and increased by 60.1 percent compared to the previous year. The trade balance developed with a positive balance of USD 562.6 million, which is 37.1 percent more than in the previous month.

China accounted for 64.3 percent of total of Mongolian trade, reaching USD 13.7 billion in 2022. Hard coal and copper concentrates accounted for 56.8 percent and 25.9 percent of total exports to China, while gold accounted for 99.7 percent of all exports to Switzerland.

The average border price for gold increased by USD 3,300 per kilogram. The average border price for copper concentrates increased by USD 119.3 per ton, and the average border price for coal increased by USD 8 per ton compared to the previous month. The average border price of gold in raw or semi-finished form fell by USD 11.4 per barrel.