Total Mongolian trade with China in January 2022 amounted to a bit over $520 million, accounting for about half of Mongolia’s international trade. Overall, Mongolia exported over USD $530 million in January 2022, while importing over $550 million; trading with 117 different countries globally.

Coal and Copper made up a large portion of exports to China, while the total exports of these two commodities amounted to less than January 2021.

Mongolia mainly received imported products from Russia, and China, with both accounting for around one third of total imports. Other countries providing significant imports to Mongolia, include Japan, South Korea, the USA, and Germany.

Exports from Mongolia are dominated by mineral commodities, precious metals, and jewelry and textiles. Imports include machinery, industrial equipment, electrical appliances, vehicles and food products.

Mongolia has long sought to expand agricultural product cultivation and export in the country. In tis regard, the Governor of Selenge province recently signed a letter of agreement with the United Nations Food and Agriculture Organisation on establishing a land management plan for Selenge province. The goal of the land management plan is to promote the expansion of sustainable agriculture, balancing the need for agricultural development and protection of the natural environment.

At the same time, this week plans have been announced for 18 new cheese production factories in Khuvsgul aimag. The plan includes MNT 4 billion (USD ~$1,392,000) in the national budget for establishment of these new cheese factories this year.

Cheese factories will be established in 18 soums of Khuvsgul aimag, one of the aimags having the most livestock. These new local factories will allow rural farmers to more easily access milk processing facilities, decreasing transportation costs and risk of spoilage of fresh milk. The project aims to increase opportunities for export of high quality artisanal cheeses from Mongolia’s traditional herders.