Mongolia's foreign trade turnover up 25 pct in Q1

ULAN BATOR, April 10 (Xinhua) -- Mongolia's foreign trade turnover reached 2.6 billion U.S. dollars in the first quarter of 2018, up 25 percent from the same period last year, data from the Mongolian Customs General Administration (MCGA) showed Tuesday.

The country demonstrated a surplus in its foreign trade balance as exports exceeded imports by 351 million dollars, according to the MCGA. In addition the mining industry accounted for over 84.5 percent of total exports, it said in a statement.

China remains Mongolia's major export destination. Among the 48 countries to which Mongolia exported its goods and services in the first three months this year, China was the recipient of 86.7 percent of the total.

Bilateral trade between Mongolia and China grew 36 percent to reach 6.7 billion dollars in 2017, accounting for 63 percent of Mongolia's total trade. The two nations have set a 10-billion-dollar target for bilateral trade by 2020. Enditem