Mongolia

Economic activity in Mongolia has traditionally been based on herding and agriculture. The main agricultural products are wheat, barley, vegetables, forage crops; sheep, goats, cattle, camels, and horses.

Mongolia also has extensive mineral deposits. Copper, coal, molybdenum, tin, tungsten and gold account for a large part of industrial production.

The main industries are construction and construction materials; mining (coal, copper, molybdenum, fluorspar, tin, tungsten, and gold); food and beverages; processing of animal products, cashmere and natural fiber manufacturing.

Mongolias main export commodities in 2005 were copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar and other nonferrous metals. The major export markets in 2005 were China (48.1 percent), United States (14.2 percent), Canada (11.6 percent), United Kingdom (8.3 percent) and South Korea (6.2 percent).

US-Mongolia Trade Facts

Mongolia is currently our 155th largest goods trading partner with $126 million in total (two way) goods trade during 2010. Goods exports totaled $115 million; Goods imports totaled $12 million. The U.S. goods trade surplus with Mongolia was $103 million in 2010.

Exports

Mongolia was the United States' 140th largest goods export market in 2010.

U.S. goods exports to Mongolia in 2010 were $115 million, up 184% ($74 million) from 2010.

The top export categories (2-digit HS) in 2010 were: Vehicles ($59 million), Machinery ($32 million), Meat ($5 million), Rubber ($3 million), and Optical and Medical Instruments ($3 million).

U.S. exports of agricultural products to Mongolia totaled $6 million in 2010.

Imports

Mongolia was the United States' 161st largest supplier of goods imports in 2010.

U.S. goods imports from Mongolia totaled $12 million in 2010, a 22.0% decrease ($3 million) from 2009.

The five largest import categories in 2010 were: Salt and Sulfur (fluorspar) ($5 million), Knit Apparel ($2 million), Special Other (returns) ($1 million), Sugars ($720 thousand), and Miscellaneous Food Items ($660 thousand).

U.S. imports of agricultural products from Mongolia totaled $1 million in 2010.

Trade Balance

The U.S. goods trade surplus with Mongolia was $103 million in 2010, up 302% ($78 million) from 2009.

Investment

U.S. foreign direct investment (FDI) in Mongolia (stock) was not available in 2009.

Mongolia FDI in the United States (stock) was not available in 2009.