Mongolia

Mongolia ranked No. 147 in total trade value through June with a total of $70.16 million. Exports totaled $65.56 million and Imports totaled $4.6 million, a surplus of $60.97 million.

U.S. trade with Mongolia rose to $70.16 million through June

Mongolia’s trade with the United States rose to $70.16 million through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 48.89 percent below its total trade during the same time period last year. U.S. exports to Mongolia decreased 45.59 percent while U.S. imports from Mongolia fell 72.61 percent. The U.S. surplus with Mongolia was $60.97 million.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Los Angeles; No. 2 Port of Long Beach; No. 3 Port of Virginia; No. 4 Chicago O’Hare International Airport; and No. 5 Port of Charleston. During the same period the previous year, the top five were No. 1 Seattle-Tacoma International Airport; No. 2 Port of Long Beach; No. 3 Port of Los Angeles; No. 4 Los Angeles International Airport and No. 5 Port of Tacoma, Wash.. In the current time period, the top five accounted for 65.43 percent of Mongolia’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles rose 52.18 percent to $13.68 million.
    Exports rose 55.44 percent to $13.39 million. Imports fell 22.91 percent to $288,855.
  • Trade with No. 2 Port of Long Beach fell 37.99 percent to $12.66 million.
    Exports fell 41.38 percent to $11.88 million. Imports rose 440.58 percent to $777,521.
  • Trade with No. 3 Port of Virginia rose 4140.61 percent to $10.59 million.
    Exports rose 4140.61 percent to $10.59 million. There were no imports.
  • Trade with No. 4 Chicago O’Hare International Airport rose 25.74 percent to $4.81 million.
    Exports rose 20.5 percent to $4.47 million. Imports rose 203.94 percent to $331,836.
  • Trade with No. 5 Port of Charleston rose 29.55 percent to $4.17 million.
    Exports rose 162.98 percent to $4.17 million. There were no imports.

Mongolia ranked No. 147 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 146.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Mongolia by value through June were the categories of Motor vehicle parts; Passenger vehicles; Rubber tires; Tractors; and Prepared foods, beverages, respectively. They accounted for 50.58 percent of total exports to Mongolia.

The value of the top five categories of U.S. imports from Mongolia –– Sweaters, pullovers, vests, knit or crocheted; Returned exports, without change; Misc. machinery for moving, grading; Feldspar; Leucite; Nepheline, N Syenite; Fluo 2529; and Transmission shafts, bearings, gears –– accounted for 57.28 percent of all inbound shipments.

Looking more closely at U.S. exports to Mongolia:

  • Motor vehicle parts rose 507.1 percent compared to last year to $11.93 million.
  • Passenger vehicles fell 41.81 percent compared to last year to $11.44 million.
  • Rubber tires rose 134.04 percent compared to last year to $4.39 million.
  • Tractors rose 480.15 percent compared to last year to $3.17 million.
  • Prepared foods, beverages fell 4.07 percent compared to last year to $2.23 million.

Looking more closely at U.S. imports from Mongolia:

  • Sweaters, pullovers, vests, knit or crocheted rose 63.04 percent compared to last year to $1.07 million.
  • Returned exports, without change fell 95.93 percent compared to last year to $499,292.
  • Misc. machinery for moving, grading totaled $453,825. The previous year, there were no imports in this category.
  • Feldspar; Leucite; Nepheline, N Syenite; Fluo 2529 fell 1.22 percent compared to last year to $305,634.
  • Transmission shafts, bearings, gears rose 1215.07 percent compared to last year to $301,428.

In the latest annual figures available, Mongolia recorded $217.45 million in trade with the United States. Total U.S. exports to Mongolia were $ 192.7 million and imports from Mongolia were $24.76 million. The U.S. surplus with Mongolia was $167.94 million.